Audit firms worldwide are in a better financial position than ever, according to the latest research by the Corportrate Library – the US corporate governance think tank .
The research, claimed to be the ‘most extensive study of the audit industry ever published', revealed that the world's leading audit firms had seen a rise of 345 per cent in their audit fees since 2001.
The research was based on a study of 100 audit firms and 1300 companies across the globe.
Althought the rapid rise in earnings was attributed to Sarbanes Oxley, the research said there had also been a 'revolution' in the type of service provided by accounting firms, which now included a larger amount of audit-related offerings and drove the fee income growth.
Global Audit Firms Witness Significant Rise In Fees
Fri, 24 Aug 2007
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