Audit fees in the US, which rose sharply following the implementation of the
2002 Sarbanes-Oxley Act, have begun to fall, a report published in
Compliance Week has revealed.
Large public companies (revenue of more than $5bn) in their second year of
Sarbanes-Oxley compliance saw audit fees fall 0.6% in 2005, while overall, fees
paid to external auditors fell by 7.4%.
The drop in audit costs contradicted reports in the Wall Street
Journal which said that audit fees were still rising, albeit moderately.
‘The Big 4 predicted a decline like this, but few believed them,” said
Compliance Week managing editor Matt Kelly.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day