Audiotech changes auditors
Posted: Sunday Sep 11 2:50:50PM 2005
I agree that it always wise to be skeptical when a company changes auditors, especially when they change from a big name accounting firm to a small shop. There is also little doubt that new reporting standards are having an impact on audit fees as you indicated. In regards to AUD, they noted in their press release that all 3 of their other bids were substantially less than the fees proposed by KPMG. If there was one "cheap" quote in the group that they selected and it was an "unknown" shop, I might be concerned, but in this case, it seems very justified to reduce overhead costs.