Posts Tagged “non-audit fees”
The RSA Insurance Group is to put a cap on the amount of non-audit fees that their auditors can earn. The capped amount will be 25% of the total audit fee.
KPMG which are the company’s current auditors earned a total of £7.2m in 2013, of which £2.2m was for non-audit services. Some £1.3m of those non-audit services related to the identification of financial and claims irregularities in RSA’s Ireland division.
Previous to the appointment of KPMG as auditors, rival Big4 firm Deloitte was the company’s auditors. In 2012 Deloitte earned &15.7m, of which £9.5m related to non-audit services.
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