New York (April 1, 2004) -- Predictions that audit fees would climb with the implementation of rules that limit the non-audit services that accounting firms can perform for audit clients and require audit committees to approve many non-audit services appear to be correct.

An analysis of proxy disclosures of most of the 30 companies in the Dow Jones Industrial Average showed that audit fees are up, while the fees that firms are collecting from audit clients for consulting and tax services have fallen sharply, according to a report by The Wall Street Journal.

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