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June 28, 2010

UK firms’ audit fee percentage declines

The past six years have seen a steady decrease in the percentage of fee income the Big Four derive from audit, according to the UK Public Oversight Board’s (POB) annual Key Facts and Trends in the Accountancy Profession report.

The Big Four’s audit fee split dropped from 26 percent in 2004 to 24 percent in 2009.

Mirroring this, the audit fee income of non-Big Four firms grew from 30 percent of total revenue in 2004 to 33 percent in 2009.

Reflecting growing scrutiny of firms’ independence, there has been a drop in the percentage of revenue derived from non-audit services provided to audit clients.

The Big Four’s fees from non-audit work to audit clients dropped from 22 percent in 2004 to 16 percent in 2009.

Non-Big Four firms’ fees from non-audit services to audit clients dropped from 18 percent in 2004 to 15 percent in 2009.

 

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