Audit Fees Rose by $1.2 Billion Since 2010

By:
Chris Gaetano
Published Date:
Jan 8, 2018
audit

A study from research firm Audit Analytics has found that audit fees for public entities have grown by $1.2 billion since 2010, going from $7.6 billion to $9.2 billion in this time, according to Accounting Today. This has been part of an overall upward trend that started around 2012, with the fee-to-revenue ratio growing from $452 per $1 million then to $541 to $1 million now. 

In contrast, non-audit fees have sunk dramatically since 2002, going from 51.5 percent of total fees paid by accelerated filers to, now, 20 to 22 percent. The study attributes this change to the Sarbanes-Oxley Act, which severed audit and non-audit services and introduced a number of new audit requirements. 

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