UK Audit Costs Rise 75% Over Five Years Amid Stricter Regulation

Audit fees for UK-listed companies have surged by 75% over the past five years, according to a Monday report that blamed the increase on a lack of competition and tougher regulation.

On average, the cost of hiring an audit firm to review a listed company’s accounting jumped from about £397,000 ($504,000) in the fiscal year that ended in 2018 to £694,000 ($880,000) in 2023, according to the report from Quoted Companies Alliance, which represents small and medium-sized public companies. On the London Stock Exchange’s Main Market, average audit costs increased from about £733,000 ($929,000) to £1.3 million ($1.7 million) over ...