Despite Expectations, Audit Fees Rise In 2005

Law360, New York (June 15, 2006, 12:00 AM EDT) -- In a surprising trend, audit fees for public companies continued to increase steadily in 2005 as the controversial Section 404 internal controls requirements mandated by the 2002 Sarbanes-Oxley Act began to take effect, according to a study conducted by Foley & Lardner LLP.

The firm offered the public a first glance at the conclusions of its fourth annual examination on Thursday in “The Cost of Being Public in the Era of Sarbanes-Oxley.”

In the wake of such massive corporate scandals as Enron and WorldCom, SOX was...
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