Published: 24 April 2024
Corporate controllers can use the results of our 2024 audit fees survey to understand if their fees are in line with peers’, see what causes audit fee increases and decreases, compare client satisfaction of external auditors, and support their audit fee negotiations.
Eightypercent of the companies reported an increase in audit fees in 2023, with 36% reporting an increase of 6% or more.
Inflation emerged as the leading cause for audit fee increases in 2023 for68% of companies participating in the 2024 audit fee survey.
Respondents indicated a marginal reduction in overall satisfaction with their auditors compared to our 2022 findings.
When evaluating their audit fees, corporate controllers should:
Avoid scope creep by clearly defining the size and scale of the audit needed for your business, making sure all subsidiaries agree with the defined scope ahead of the contract decision. Frequently, customized
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Analysts:
Renata Viana, Jeffrin Francis, Permjeet Gale
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