Ethical Considerations Relating to Audit Fee Setting in the Context of Downward Fee Pressure

As a response to stakeholder concerns about downward pressure on fees being a factor potentially adversely impacting audit quality, this publication highlights important considerations in the Code of Ethics for Professional Accountants (the Code) for auditors in relation to the setting of audit fees.

The publication will be relevant to auditors when considering tendering for a new audit engagement, or when proposing or agreeing fees for recurring audit engagements. It may also be of interest to those charged with governance, preparers, regulators and audit oversight bodies, investors, and others with an interest or role in auditors’ work and their independence.