The State Of Audit Fees, Auditor Relationship, Risk Management: FEI-FERF Report
June 9, 2011
FEI Summary

(June 9, 2011) Earlier today, results of the latest FEI Audit Fee Survey, conducted by FEI's research affiliate, the Financial Executives Research Foundation, were released. This year's survey, sponsored by NYSE-Euronext, was expanded as in recent years to include audit fees in total (not only Sarbanes-Oxley Section 404-related fees), since Sarbanes-Oxley Section 404 fees are generally not broken out as much by auditors as in prior years, and have been blended into the integrated audit fee.

Additionally, this year's survey results include results for both private and public companies, with results broken out within public companies for accelerated and nonaccelerated filers.

Modest Changes In Audit Fees

In brief:

• Audit fees for public company accelerated filers increased by 2 percent, on average;
• Audit fees for public company nonaccelerated filers increased by 3 percent, on average; and
• Audit fees for private companies remained flat, on average. 

Auditor Relationship, Risk Management

This year's survey also asked respondents for their views about their relationship with their auditor, as well as for information about whether they currently have a company-wide risk management process in place. 

Read more in FEI's press release.

Access the full Audit Fee Survey report.

Prepared June 9, 2011 by Edith Orenstein, director, accounting policy analysis and communications, Financial Executives International.