Effect of Internal Control Evaluation on Auditors’ Fees. Refer to the mini- case “ How Much Are Auditors Paid?” shown on page C23 and respond to Questions 5 and 6.
5. For General Electric and the Fortune 100 companies, can you identify the increased costs of section 404 compliance cited in the press?
6. Comparing the fees in 2004 versus those in 2008 and 2012 for General Electric and Fortune 100 companies, does it appear that AS 5 has reduced costs of section 404 compliance?