Both public and private companies saw an increase in the auditing fees they paid to outside firms, according to a new survey by Financial Executives International.
The survey polled more than 220 financial executives from U.S. public and private companies and nonprofit organizations. The audit fees paid by the 87 publicly traded companies responding to the survey for fiscal year 2012 averaged $4.5 million, an increase of 4 percent from the audit fees they paid for their prior fiscal-year audit. Of those executives polled, 91 percent were accelerated filers with total market capitalizations of more than $75 million.
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