Audit Fees and Non-Audit Fees Decrease As a Percentage of Revenue
Audit Analytics has just released its annual report on trends in audit fees and non-audit fees. This report includes data from 2002 - 2011 and provides detailed analysis and trends for the period.
Highlights from the research include:
- The ratio of audit fees to revenue peaked in 2005, when the average audit fees paid per $1 million of revenue was $597.
- As a percentage of revenue, 2011 experienced the lowest audit fees since 2004: $466 of audit fees for every $1 million in revenue.
- 2011 experienced the lowest non-audit fees, as a percentage of revenue, calculated in the ten-year review: $121 of non-audit fees for every $1 million in revenue.
View the Audit Analytics report: Audit Fees and Non-Audit Fees: A Ten Year Trend.