Public companies' audit fees increased 4.5 percent last year, while audit fees for private companies were 3.7 percent higher in 2013, according to the results of a new survey released on Thursday by the Financial Executives Research Foundation.
A recent report revealed that financial executives, internal auditors, external auditors, and board/audit committee members differ as to who is responsible for detecting and preventing financial statement fraud.
According to more than 220 finance leaders who participated in a new survey by FEI, audit fees paid by public companies in 2012 increased by 4 percent over their prior fiscal year audit; private company fees increased by 3 percent.
In the fight against financial reporting fraud, members of the financial reporting supply chain have a new tool to advance their fraud deterrence and detection capabilities. The Anti-Fraud Collaboration has published the "Hollate Manufacturing Case Study" to raise awareness of environments in which fraud might flourish.
Financial Executives International (FEI) has announced the release of its first-ever "Congressional Scorecard," which rates lawmakers' records on their votes for or against FEI's priority legislative issues.