The S&P 500 is one of the most followed equity indices that tracks the largest 500 companies listed on U.S. exchanges. Does this mean they are susceptible to paying higher audit fees overall? There are many factors that affect the general cost of an audit. The amount of time and labor needed to perform the audit, the complexity of the company and its financials, and the potential risk or liability a firm takes on when they provide an audit are all factors evaluated when it comes time to pay external auditors.
In this article, Audit Analytics offers a comprehensive overview of the SEC audit fee market examined in its 20-Year Review of Audit Fee Trends Report.