Posted By: DownSouth1
Audit Fees for Sox 404 Compliance - 07/02/09 12:02 AM
My bank is a community bank, asset size $350M, publicly traded. In 2009, for the first time, our external auditors will be performing an audit and issuing an opinion on our Internal Controls as well as our financial statements as required by SOX 404.
This is not going to be cheap! Their proposed fees for this one part of their work are an additional 40-60% of their regular audit fee.
I am interested in hearing from other similarly situated banks to see what other your accounting firms are charging for these services.
I would appreciate your feedback!
This is not going to be cheap! Their proposed fees for this one part of their work are an additional 40-60% of their regular audit fee.
I am interested in hearing from other similarly situated banks to see what other your accounting firms are charging for these services.
I would appreciate your feedback!