Auditing the auditors – the cost of 'other' fees

KPMG NZ national managing partner Brent Manning says climate-change disclosures require more work. (Image: KPMG)

Tue, 06 Dec 2022

Additional reporting by Murray Jones and Andy Fyers. Big four accountants took home $5.4 million in “other fees” for work outside their statutory audit on firms in the top 50 companies (NZX50) on the New Zealand stock exchange in 2022, up from $4.5m the year prior. This equated to 14% of the total auditor fees recorded, a figure which remained flat year on year. When BusinessDesk last checked in on audit fees, 17% of fees were being spent on “other” work outside the statutory audit. However, this analysis...

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