Bank of America is one of the largest companies in the world. They are one of the largest banks in the world. Financial institutions like banks have some of the most complicated accounting issues. This is why their audit fee is one of the highest in the world.
Pricewaterhousecoopers is Bank of America’s auditor.
Bank of America paid PwC $66.7 million in 2019 and $83.1 million in 2018.
The audit fee breaks down as follows:
2019 audit fees
57.2 million – Audit Fees
5.1 million – Audit related fees
4.4 million – Tax Fees
Total fees – 66.7 million
69.3 million – Audit Fees
7.8 million – Audit related fees
5.5 million – Tax Fees
0.5 million – Other Fees
83.1 million – Total fees