Monday, June 19, 2006 Since federal accounting reforms were enacted in 2002, public companies with less than $1 billion in annual revenue have seen audit fees nearly triple in the past four years, according to a recent study by law firm Foley & Lardner. Audit fees were more than $1.2 million for fiscal year 2005 compared to $332,000 before accounting reforms. In 2004, public companies with less than $1 billion in revenue spent slightly more than $1 million on audit fees, the study showed. Audit fees for Sarbanes-Oxley compliance keep rising Previous articles SEC ruling drives demand for SOX auditors
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