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Wednesday, April 05, 2006

Audit costs drop in US

Audit fees in the US, which rose sharply following the implementation of the 2002 Sarbanes-Oxley Act, have begun to fall, a report published in Compliance Week has revealed.

Large public companies (revenue of more than $5bn) in their second year of Sarbanes-Oxley compliance saw audit fees fall 0.6% in 2005, while overall, fees paid to external auditors fell by 7.4%.

The drop in audit costs contradicted reports in the Wall Street Journal which said that audit fees were still rising, albeit moderately.

posted by Brian Moran @ 9:24 AM   0 comments

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