After spending months (and a few hundred grand in accounting fees) poring over 30 of the firm's contracts, Castle begged off.
It would be a perfect pairing with the simplifications in the tax code that would result from slashing all of the company-specific sections out of the tax code, which in and of themselves would save companies millions in tax accounting fees.
The legislation has been a boon for the accounting industry-fees in many cases have doubled or tripled.
Several funds told FORBES they follow a convention in which half the NTF fee (up to 0.2%) is charged to investors, just as accounting or legal fees or some marketing fees are, and the other half comes from the fund sponsor.
The legislation has been a boon for the accounting industry--fees in many cases have doubled or tripled.
Benn Steil, senior fellow at the Council on Foreign Relations, notes companies that list in New York, in aggregate, pay millions of dollars a year to meet U.S. legal and accounting rules and exchange fees.
FORBES: Why the world would be better off with one big stock market.
FASB, would hand the responsibility for its funding to the Treasury, which would levy compulsory fees on companies and accounting firms.
State's big four accounting firm has tried to increase audit fees twice since January, citing extra work to comply with Sarbanes-Oxley.
Because once a client signs up for a hosted CRM or accounting application and begins paying their monthly fees, I get a small piece of that long term revenue stream.
For small businesses, those fees can make a significant dent, accounting for 5% or 6% of each transaction.
Typically, in addition to management and performance fees, investors also will pay for legal and accounting charges.
Enron's auditor, Andersen, which also earned lucrative consultancy fees from the energy giant, failed to spot accounting irregularities in the company's books.
After all, tuition and fees have increased 184% in 20 years after accounting for inflation, but wages for college grads have risen just 9%, according to Labor Department data.
WSJ: Upside: Is College the 'Best Investment'? Here's the Math
The company had offices in London and Miami, and because Fluxman knew both British and American accounting rules, he was able to square the books and save a bundle in audit fees.
The General Accounting Office said in a 2000 report that the result is that many investors don't give fees much thought and overpay, while funds don't compete much on fees.
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