Audits of Public Companies: Survey of Public Companies (GAO-08-164SP, January 2008), an E-supplement to GAO-08-163

Audit Costs

17.
Since 2003, have your firm's total costs (including labor, overhead, insurance, etc.) for serving as an auditor of record generally increased or decreased? Please adjust for inflation and volume of business.
1.
2.
3.
4.
5.
6.

18.
Many factors impact costs in different ways. Since 2003, in which way has each of the following influenced your costs for serving as auditor of record? Please adjust for inflation and volume of business where appropriate.
    Great upward influence Moderate upward influence Little or no influence Moderate downward influence Great downward influence Don't know
 
a. Complexity of accounting principles and auditing standards
 
b. Additional requirements of new standards
 
c. PCAOB inspections and effort
 
d. Litigation
 
e. Insurance
 
f. Price of talent/training
 
g. Marketing
 
h. Technology
 
i. Increased use of specialists
 
j. Increase in number of professional staff hours in total
 
k. Other - please describe below
   

 
IF OTHER: please describe.


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