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Consultancy fees drop…

12 September 2018

Concerns over corporate governance means many big UK companies have cut the amount of consulting and tax advice they buy from their auditors.

In the last year fees that firms rakes in from non-audit work dropped by 11%, says Source Global.

However, the audit fees the FTSE 100 companies paid to their auditors for audit work rose by 10% to £723m.

Source Global’s Edward Haigh said there is a rising nervousness about regulation and political scrutiny. He explained: “There are genuine concerns that regulators will step in and force them to restrict the relationships further and companies want to stay a step ahead of any changes.”

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