outlook & analysis

have audit fees hit bottom?

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not quite yet, according to a new analysis by cfo magazine.

but cfo says “the trend has begun to slow.”

“only three of the top eight audit firms showed a drop in fees charged as a percentage of client revenue in 2009,” cfo says, compared with a dramatic drop from 2007 to 2008 for all but crowe among the top eight firms.

audit fees have been dropping since 2007.

in 2004, more than a third of auditor changes were the result of audit firms walking away from clients.

last year, 82% of auditor changes resulted from companies firing their auditors. and among the big four, the number was 90%.

via cfo.com

2 responses to “have audit fees hit bottom?”

  1. assurance industry changing

    […] is an amazing statistic and the sign of the times: in 2004, more than a third of auditor changes were the result of audit firms walking away from […]

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