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Are audit fees slowing

Filed in archive SOX by leon on July 30, 2008

audited.jpeg


Is the SOX pain over? Are audit fees really on the way down, or is it a temporary blip?

That seems to be the suggestion from the latest Compliance Week analysis, reported in this press release here.

Still, don't open the champagne yet. Audit fees rose 3.2 per cent compared with 4.4 per cent the previous year. And when audit fees at a few 2007 companies with extraordinary transactions are eliminated from the calculation, it comes out to a 0.3 per cent reduction.

Compliance Week editor in chief Matt Kelly says the growing pains of Sarbanes-Oxley are well and truly over but these numbers are still miniscule. It might be the first decrease since Sarbanes-Oxley but it's tiny. If there is a trend, it needs to be monitored over a period of time. So don't celebrate yet. Just watch this space.






Permalink: Are audit fees slowing
Tags: audit  fees  2007  2008  creative  audit+fees  fees+slowing  hedge+funds 

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Related Entries:

Money for auditors - 16 January 2006

Cox says no to SOX exemptions. Audit fees up or down? Go... - 05 April 2006

Audit reform: the half-loaf solution - 21 December 2006

Audit squeeze - 24 August 2007

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