Canadian Non-Audit Fees and Audit Fees – A Seven Year Review - Audit Analytics Trend Reports

Canadian Non-Audit Fees and Audit Fees – A Seven Year Review

Canadian Non-Audit Fees and Audit Fees – A Seven Year Review - Audit Analytics Trend Reports
Canadian Non-Audit Fees and Audit Fees – A Seven Year Review
Published May 26, 2015
Published May 26, 2015
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About This Report

  
Abstract:

Although the totals fluctuated slightly from year to year, audit fees paid by Canadian issuers from 2007 to 2013 increased steady at an average rate of about 3.2% a year for six years. Over six years, the percentage of non-audit fees relative to total fees (considered important due to concerns about auditor independence) dropped from 29% for fiscal year 2007 to 23% for 2013. An analysis of audit fees by market cap tiers shows that the percentage of revenue used to pay audit fees is very different for Canadian issuers above and below a $10 million threshold: Companies at a value of $500 million or more paying less than one-tenth of 1%. Companies with over $10 million in market cap generally pay less than 1% of their revenue in total fees. Companies below $10 million pay on average about 2.5% of their revenue for audit fees and 3.3% for total fees. A review of auditor departures and financial restatements experienced by the research population finds that the number of these events declined in recent years.

  
Source:
Author:

Audit Analytics

Document ID
5262015
Format:
PDF Adobe Acrobat
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MLA:
Audit Analytics Trend Reports. "Canadian Non-Audit Fees and Audit Fees – A Seven Year Review" May 26, 2015. Alacra Store. Dec 07, 2016. <http://www.alacrastore.com/storecontent/Audit-Analytics-Trend-Reports/Canadian-Non-Audit-Fees-and-Audit-Fees-A-Seven-Year-Review-2033-40>
  
APA:
Audit Analytics Trend Reports. (2015). Canadian Non-Audit Fees and Audit Fees – A Seven Year Review May 26, 2015. New York, NY: Alacra Store. Retrieved Dec 07, 2016 from <http://www.alacrastore.com/storecontent/Audit-Analytics-Trend-Reports/Canadian-Non-Audit-Fees-and-Audit-Fees-A-Seven-Year-Review-2033-40>
  
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