Audit Fee

(redirected from Audit Fees)

Audit Fee

A fee a company pays an external auditor in exchange for performing an audit. Because the Sarbanes-Oxley Act made audits more complex, audit fees have increased significantly in the United States since 2001.
References in periodicals archive ?
Additionally, audit fees increased for the year ended December 31, 2017 as we became larger and more complex.
The complexity and volume of auditing and accounting regulations are increasing while the pressure on audit fees from clients continues," said Dalimil Draganovsky, partner and head of assurance at EY in Slovakia.
Sesay told audience Thursday, 15 February when he appeared on Prime FM that the GAC is not allegedly depositing audit fees in government account, urging the Ministry of Justice to act upon this information.
Descriptive statistics were used to identify the most important factors that determine external audit fees in Kuwait.
Second, we find that audit fees are positively associated with greater CEO's risk-increasing incentives.
Indeed, accounting standards are an important basis that auditors use to issue audit opinions, so any change in accounting standards will affect directly the working base of auditors and, in turn, the audit fees (Zhu and Sun 2012).
AA's audit fees were $25 million while its consulting fees were $27 million for the year 2000.
Studies on the determination of audit fees have been conducted since 1980 (Simunic, 1980), with an emphasis on English-speaking countries.
5 percent increase in 2013 audit fees for public companies.
I have data only on the audit fee that a company paid to its newly engaged auditor, but I don't observe the audit fees that the company would have paid to other auditors.
In addition, the principles highlight that the external auditors are expected to charge reasonable audit fees taking into account the complexity of the activities and structure of the financial institution, among others.