Tough competition holds back the audit fees

Article Abstract:

An IBIS Business Information survey reveals that industry-wide audit fees grew only 2%, while related consulting fees grew by 14%. PricewaterhouseCoopers L.L.P. topped the list with $159 million in audit fees, while Ernst and Young L.L.P. grew the most, from $62 million to $102 million. Firms outside the Australian Big Five accounted for only $11 million in audit fees and lost $2 million in consulting work.

Australia, International, Management Consulting, Statistical Data Included, Prices and rates, Management consulting services

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Outside partners help to spread the risk and boost the fees

Article Abstract:

BDO Nelson Parkhill has 64 partners and 500 staff throughout Australia. Fees were $42 million in 1996-97, were $45 million in 1997-98 and will be $48 million for 1998-99. The largest office is in Sydney with 29 partners plus 200 staff. Sydney billings were $20.5 million in 1996-97, were over $21 million for 1997-98 and will be $22 billion for 1998-99.

Company Profile, BDO Nelson Parkhill

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Big five insist low audit fees are not baits

Article Abstract:

Issues concerning the cost of work carried out for Australian firms, by the five largest auditing firms, and their charges for additional services are discussed.

Auditing

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