Public And Private Companies Report Rise In Audit Fees

“Fees for external audits of financial statements paid by U.S. public and private companies rose in 2012, according to a new survey report. Audit fees paid by 87 public companies averaged $4.5 million in 2012. That represented a 4% increase… [from the] previous fiscal year. Private companies paid an average of $147,800 in total audit fees in 2012, an increase of 3% over their 2011 audit fees.”