KPMG UK CEO Says Audit Fees Will Increase Despite Complaints (1)

KPMG expects to increase its audit fees this year as the accounting firm looks to offset higher costs from regulatory requirements and operating expenses.

“The price of audit will have to increase this year,” the firm’s UK chief executive officer Jon Holt said in an interview with Bloomberg as the firm published its annual results. “The sector is facing a number of upward cost drivers, from new audit and accounting standards to inflationary pressures.”

Clients will likely bristle at the remarks. Chief financial officers at some of the UK’s largest companies have already complained to the Big Four, as the ...