Survey on audit fees, 2013

07/24/2013

Donald A. Norman, Ph.D., senior economist
Responses from 72 manufacturing companies provide valuable data on audit fees paid in 2011 and 2012. The survey results show that audit fees increased from FY2011 to FY2012 while revenues increased at an even faster pace. As a result, the average ratio of audit fees to revenue declined in 2012. Company size as measured by total revenue accounts for much of the variation in the ratio of audit fees to revenue. The report includes analysis of various factors that determine these fees and which contribute to the observed variation in the ratio across companies. It provides data on average hourly audit fees and average cost of internal work. Respondents also share comments on steps they are taking to reduce the cost of their FY2013 audit. $75 for members, $275 for non-members. Survey

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http://www.mapi.net/research/publications/survey-audit-fees-2013

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