Regulatory Pressures Slow Down Audits, Raising Fees

“Corporate finance executives say their annual audits are growing more contentious and more expensive as auditors facing heightened regulatory pressure are seeking more justification and documentation from managers. Auditors have sharply increased requests for documentation, details of internal controls processes and minutia around asset valuations, as the Public Company Accounting Oversight Board found an uptick in audit deficiencies in these areas over the past couple of years.”