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Unformatted text preview: © W.R. Knechel Audit Fee Determination Cost of staff by time and grade: size, complexity, and risk 80% Internal control strength 1st year learning Internal auditors assistance anticipated Need for a spet Can they pay the fee? Not an AICPA concern Retainer (smooth cash flow) 1990s: Non audit services -> audit as loss leader Did the predecessor get paid? Aesop: Fox and Lion Footprint going into Lion’s den but not coming out, bones. Story A/P aging, need to have clients to make partner...
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- Fall '08
- Audit fee