Audit-market.com Launches PCAOB Audit-Market Guide to Help Firms, Clients and Investors Navigate This $14 Billion Market
A growing free resource of information on the audit market - guide shows estimated average audit fees as percentage of revenue by company size - Big 4 audits estimated to cost on average 28% more than non Big 4 audits
LAS VEGAS and NES TIZIONA, Israel, April 22, 2019 /PRNewswire-PRWeb/ -- Audit-market.com (https://www.audit-market.com) a growing free resource of information on the 14 Billion dollar audit market has announced that it has introduced a guide to the PCAOB Audit Market (https://www.audit-market.com/audit-market-guide). The guide is designed to arm market participants with vital information on audit fees, market share and information on the Big 4 accounting firms.
The guide's estimates are based on a statistical sample survey conducted by audit-market.com based on publicly available information on 255 PCAOB randomly selected audit engagements. The research has broken-down average audit fees as percentage of revenue for public companies:
- companies with revenues in excess of $10Bn pay on average audit fees which are approx. 0.05% of their total revenues
- companies with revenues ranging from $1Bn to $10Bn pay on average audit fees which are approx. 0.13% of their total revenues
- companies with revenues ranging from $100M to $1Bn pay on average audit fees which are approx. 0.26% of their total revenues
- companies with revenues ranging from $10M to $100M pay on average audit fees which are approx. 0.92% of their total revenues
These averages can be useful as a rule of thumb for assessing audit fees, however, the research has shown that there is significant variance between audit engagements and that revenue is not always the determining factor.
The research also found that, for audits performed on companies with revenues that are between $10M and $1,000M, the "Big 4" accounting firms' (PriceWaterhouseCoopers, LLP, Ernst & Young, LLP, KPMG, LLP and Deloitte & Touche, LLP) fees are expected to cost an average of 28% more than the expected fees for audits performed by non Big 4 accounting firms.
Audit-market.com has also accumulated specific and detailed research on the clients and audit fees of 38 PCAOB registered audit firms that have conducted audits on 784 public companies (https://www.audit-market.com/audit-firms-info). This information is posted online are totally free. The webpages detail the public company clients of each of the listed firms, as well as information on the audit fees reported.
About Audit-market.com
https://www.Audit-market.com is ta growing free resource of information on the 14 Billion dollar audit market. Audit-market.com strives to become the leading source of information for audit firms, their clients and for investors. Audit-market.com aims to help public companies find auditors and for auditors to locate new engagements as well as to provide support for audit committees and boards of directors.
SOURCE Audit-market.com
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