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Audit fees rose in 2014 for SEC filers, private companies

by Ken Tysiac | Oct 16, 2015   ()

Audit fees paid by SEC filers and private companies increased in 2014, a new survey shows.

SEC filers reported a median increase of 3.4% over the fees they paid to external auditors the previous year, according to a survey by the Financial Executives Research Foundation.

Private companies participating in the survey reported a median rise in audit fees of 2.0% and an average rise of 2.7%. Not-for-profits reported an average rise in audit fees of 1.3%, but the median comparison with the previous year was flat.

The report examines responses from 220 financial executives, plus audit fees as reported by SEC filers of more than 7,000 organizations. Public companies participating in the survey reported a median audit fee increase of 3.1%, slightly lower than the 3.4% reported by the larger pool of SEC filers examined for the report.

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Source: Journal of Accountancy

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