Provision of non-audit services by statutory auditors continues to drop in Europe
To answer questions about the cost of audit and how it compares to the fees companies pay for other professional services provided by statutory auditors, the International Federation of Accountants (IFAC) published Audit Fees Survey 2022: Understanding Audit and Non-Audit Service Fees, 2013-2020.
The study is based on information on companies trading on US, Canadian and European stock exchanges from 2013 to 2020.
It has confirmed that the provision of non-audit services by statutory auditors continues to drop in European countries. This trend had been reported in the study by Audit Analytics (2020), stating that the % of non-audit fees received from public interest entity (PIE) audit clients has been declining since new measures at EU level were adopted in 2014.
Both the IFAC and Audit Analytics reports are based on publicly available market data collected in the Audit Analytics database.
International Ethics Board calls for stakeholder input on its strategy and work plan
The International Ethics Standards Board for Accountants (IESBA) released a public survey seeking input for developing its Strategy and Work Plan 2024-2027.
The survey seeks input on what key trends, developments or issues the IESBA should consider when developing its strategy.
The deadline for submitting responses is 8 July 2022.