The FEI survey found very modest changes in overall audit fees compared to last year.
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One firm PwC on its own received a staggering 47% of FTSE audit fees.
State's big four accounting firm has tried to increase audit fees twice since January, citing extra work to comply with Sarbanes-Oxley.
Audit fees for public company non-accelerated filers increased by 3%, on average.
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Audit fees for public company accelerated filers increased by 2%, on average.
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It said savings would come through renegotiating contracts and supplies such as payroll services and external audit fees and no jobs would be lost.
The latest FEI Audit Fee Survey, sponsored by NYSE-Euronext, focuses on audit fees in total, not just Sarbanes-Oxley (SOx) Section 404-related fees.
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The relationship between financial reporting risk and audit fees has disappeared.
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Companies in the volatile construction business and those on the leading edge of technology might also face higher audit fees or no audits at all, says another big-four partner.
After some contentious early years that included significant increases in audit fees and other costs to cover the new requirements, Protiviti says the news is getting better for most organizations.
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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 credit crisis, and then the financial crisis, ushered in a new austerity that has re-sized audit fees and put auditors on the defensive again, looking for new services and new ways to charge new and existing clients more.
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And there are numerous examples of audit firms still earning at least as much of their fees from audit clients, or multiples of their audit fees, from what were, in my mind, supposed to be prohibited services to those companies.
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To be clear, as a British phenomenon it is pretty pronounced phenomenon: in 2009, the Big Four received 100% of all audit fees paid by FTSE100 companies (the UK's largest listed businesses) and 98% of the next tier, the FTSE250 businesses.
At the very least, KPMG is almost certainly going to have to return the audit fees, amounting to tens of millions of dollars, and the firm may be liable for other damages if the courts determine that the firm was in any way derelict in monitoring and supervising Mr. London, who was in charge of some 50 audit partners and 500 employees.
The firm was no more a bum than any of the other Big 4 audit firms who held on as long as they could to as much additional work and fees from audit clients as they could.
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Both Comcast and PPG Industries spent more than 10% of total fees to Deloitte on non-audit related and tax services in 2011 and 2010, for example.
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The IRS audit manual still says that carried-interest may be disguised incentive fees.
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Davis concedes the card proposal wouldn't burden small businesses directly, but she worries it could drive up card fees and lead the IRS to unfairly "profile" businesses for audit.
Goldman Sachs spends almost 50% of the fees paid to PwC on services not required by the basic financial statement audit.
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