Auditor Relationship, Audit Fees, and Risk Management: FEI-FERF Report

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Earlier today, results of the latest FEI Audit Fee Survey, conducted by FEI's research affiliate, the Financial Executives Research Foundation (FERF), were released.

This year's survey, sponsored by NYSE-Euronext, was expanded as in recent years to include audit fees in total (i.e., not only Sarbanes-Oxley Section 404-related fees, which was the objective of the audit fee survey when first launched). Information on total audit fees is now the focus of the survey, 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.

Public and Private Companies Surveyed
The survey results include results for both private and public companies, with results broken out within public companies for accelerated and nonaccelerated filers.

243 survey responses were received in total, representing executives from 98 U.S. publicly-held companies (consisting of 82 accelerated filers and 16 nonaccelerated filers), 124 U.S. privately-held companies, three foreign companies and 21 non-profit organizations.

This year's survey results showed only modest changes in audit fees, for public and private companies.

The survey also included questions on the relationship with the auditor, and on risk management. Read additional highlights here.

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