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Audit fees and surveys

Research guide

Published: 28 Feb 2014 Updated: 16 Sep 2024 Update History

Surveys and reports on audit fees across firms can help you benchmark charges in the sector. On this page you can access a range of articles, books and online resources providing quick links to surveys and reports.

ICAEW articles

Latest reports and surveys

Audit Fees Survey 2022
International Federation of Accountants (IFAC) report investigating how much audit costs and how this compares to the fees companies pay for other professional services provided by statutory auditors. The report quantifies audit fees as a percentage of corporate revenue, using data across a range of companies trading on US, Canadian and European stock exchanges from 2013 to 2020.

Ideagen Audit Analytics reports
A number of reports providing information on audit fees are available from data provider Ideagen Audit Analytics. Recent reports include:

Towards a transparent audit market: audit fees benchmark of listed public interest entities in the EU
Report published by Forvis Mazars in April 2022 on the cost of PIE audit in the EU. Includes data on the total average of audit fee/revenue ratio for 2021 in different member states as well as the audit fee/revenue ratio by market cap segment. Data on the evolution of audit fees from 2012 to 2021 is also provided.

Sector reports

The building society audit market
Research report published in June 2024 by the Building Societies Association. Findings reveals that audit fees have risen significantly above inflationary levels for the UK building society sector. Includes data on audit costs as averaged across the whole building society market and size based groupings of the building society market.

Districts’ audit fees double expected cost
Article published by the Local Government Chronicle. Discusses a survey of 44 UK local authorities by the Society of District Council Treasurers that reveals district councils are paying on average double the expected fee for audits. Published on 24 July 2024.

Older surveys

This section provides links to older surveys for the comparison of audit fees over time.

FTSE 350

Financial Director magazine conducted an annual audit fee survey covering the FTSE 350. This included:

The ICAEW Library & Information Service holds a run of Financial Director magazine from 2006-2017. To find out more about the availability of issues please see Library holdings: Financial Director

FTSE 100

The sixth annual FTSE-100 audit fees survey
Results of the Financial Director's annual survey of FTSE-100 audit fees published in 2003.

The fifth annual FTSE-100 audit fees survey
Results of the Financial Director's annual survey of FTSE-100 audit fees published in 2002.

HSBC tops audit fee survey
Article in AccountancyAge discussing the results of the survey of the Fifth Annual Survey of FTSE-100 Audit Fees for 2002.

Further resources

Statistics on the accountancy profession: Audit firms
Research guide produced by the ICAEW Library & Information Service highlighting key sources for accountancy market data and sources for statistics on audit firms, including fee income and stock market clients.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles and books in the ICAEW Library collection

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

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The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.

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