KPMG UK Audit Fees to Rise By Up To a Fifth Next Year, Says Firm

KPMG LLP has warned its largest UK audit clients that tougher regulations and staff raises mean that fees will surge next year.

The Big Four firm has written to its FTSE 350 audit clients to tell them that fees could jump by up to a fifth in 2023, in part because of government rules, a spokesman said by phone Friday. The rules aim to improve audit quality after a string of scandals.

Sky News first reported the story.

• KPMG pointed to revised Financial Reporting Council rules on identifying the risk of material errors, which impact audits of financial statements issued ...