Public Company Audit Fee Growth Nearly Doubled in One Year

Chris Gaetano
Published Date:
Dec 12, 2018

While the rate of growth of audit fees for private companies and nonprofits slowed or remained steady between 2016 and 2017, the same cannot be said of the rate of growth of audit fees for public companies, which a recent analysis found had nearly doubled in the same time period, according to Accounting Today. The rate of growth of public company audit fees went from 1.3 percent to 2.5 percent. In contrast, the private company audit fee growth rate went down slightly, from 3.7 to 3.2 percent, and nonprofits saw no growth at all. The disparity was attributed to the impacts of new standards, such as revenue recognition and leases, as well as high levels of M&A activity and PCAOB documentation requests. 

Click here to see more of the latest news from the NYSSCPA.