All that noise for rising audit fees !

Discussion in 'Politics & Religion' started by harrytrader, May 2, 2003.

  1. From Forbes

    "Before enacting the law, says Thomas McCool, head of financial research at the General Accounting Office, Congress did not calculate what it would cost to comply. One cost: higher audit fees. They will rise from 20% to as much as 100%, says Financial Executives International. The new law and the threat of litigation it brings probably have something to do with the out-of-control cost of directors' and officers' liability insurance. Premiums are up 30% for new policies, while underwriters have eliminated multiyear contracts to make way for future hikes. "