Fee discord stokes company-auditor divorces amid Covid-19 pandemic

Compensation has become a contentious issue between companies and auditors amid the coronavirus pandemic. So far this year, nearly 12 firms have reported resignations by their auditors due to disagreement over fees. While in some cases, companies asked the auditors to lower the fees they charge to inspect the financial statements, in other cases, the latter demanded a raise, leading to disassociation between the two. 

All in all, ‘fees’ has emerged as one of the biggest reasons for the resignation of auditors this year. In quite a few cases, companies have even seen mid-term cessation by auditors over fees.

According