Companies gain the upper hand with auditors

04/1/2010 | CFO Magazine

Once a jackpot for auditors, the 2002 Sarbanes-Oxley Act has in recent years resulted in lower fees by making it more difficult for firms to differentiate their services. Companies responded by aggressively renegotiating their fees and demanding additional services. "Auditing, especially within the Big Four, is a bit of a commodity right now, as long as you've got a firm that has the scale and scope to handle your needs," said CFO Eric Davis of SunOpta.

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