Audit income at the Big Four firms is likely to fall this year, as the effects of implementing Sarbanes-Oxley in the US drop off, according to the American head of KPMG.
Eugene O’Kelly, chief executive of KPMG in the US, said in the Financial Times that better working practices relating to the review of companies’ internal control would lead to a reduction of costs.
He said that during 2004, audit fees had increased by between 80% and 100%, but was anticipating a reduction in fees relating to Section 404 of about 15% to 25%.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com