US-LISTED European companies face a staggering 35 percent rise in audit expenses to comply with the Sarbanes-Oxley Act's requirements.

US-LISTED European companies face a staggering 35 percent rise in audit expenses to comply with the Sarbanes-Oxley Act's requirements, claimed a scan last month. The survey build that an extra [euro]370 million would be earned annually on accounting firms in additional audit pay s from such companies by 2005 The average sumptuousness increase for each company would be [euro]135 million.

Respondent believed ongoing charges of audit/attestation fees would average just athwart one-twentieth of a percent of turnover, constituting a rise of 35 percent above current audit fee levels paid by way of the companies. Directors' and officers'