That’s how much General Electric paid its longtime external auditor KPMG in fees from 2000 to 2019, according to an analysis of GE’s proxy filings for each of the past 20 years.
GE dumped KPMG on June 22, ending an 111-year relationship. Deloitte will be GE’s new external auditor beginning in 2021.
Here’s a breakdown of fees GE paid to KPMG during the past 20 years:
2000
- Audit fees: $23.9 million
- Financial information systems design and implementation fees: $11.5 million
- Tax fees: $13.8 million
- Non-audit services fees: $15.5 million
- Other fees: $38.9 million
Total: $103.6 million
2001
- Audit fees: $23.5 million
- Financial information system design and implementation fees: $2.1 million
- Tax fees: $17.5 million
- Non-audit services fees: $13.8 million
- Other fees: $3.7 million
Total: $60.6 million
2002
- Audit fees: $38.7 million
- Audit-related fees: $23.3 million
- Tax fees: $21.2 million
- Other fees: $6.1 million
Total: $89.3 million
2003
- Audit fees: $55.3 million
- Audit-related fees: $22.9 million
- Tax fees: $12.9 million
- Other fees: $500,000
Total: $91.6 million
2004
- Audit fees: $78.2 million
- Audit-related fees: $15.5 million
- Tax fees: $8.9 million
- Other fees: $0
Total: $102.6 million
2005
- Audit fees: $89.4 million
- Audit-related fees: $11.4 million
- Tax fees: $8.4 million
- Other fees: $0
Total: $109.2 million
2006
- Audit fees: $85.8 million
- Audit-related fees: $20.6 million
- Tax fees: $9 million
- Other fees: $0
Total: $115.4 million
2007
- Audit fees: $81.4 million
- Audit-related fees: $30.8 million
- Tax fees: $10.3 million
- Other fees: $0
Total: $122.5 million
2008
- Audit fees: $94.3 million
- Audit-related fees: $31.5 million
- Tax fees: $7.2 million
- Other fees: $0
Total: $133 million
2009
- Audit fees: $88.8 million
- Audit-related fees: $13.3 million
- Tax fees: $8 million
- Other fees: $0
Total: $110.1 million
2010
- Audit fees: $89.8 million
- Audit-related fees: $9.7 million
- Tax fees: $9.3 million
- Other fees: $0
Total: $108.8 million
2011
- Audit fees: $87.1 million
- Audit-related fees: $15.1 million
- Tax fees: $11 million
- Other fees: $0
Total: $113.2 million
2012
- Audit fees: $84.8 million
- Audit-related fees: $7.7 million
- Tax fees: $6.8 million
- Other fees: $0
Total: $99.3 million
2013
- Audit fees: $84.3 million
- Audit-related fees: $11.7 million
- Tax fees: $4.1 million
- Other fees: $0
Total: $100.1 million
2014
- Audit fees: $78.2 million
- Audit-related fees: $10.7 million
- Tax fees: $2.2 million
- Other fees: $0
Total: $91.1 million
2015
- Audit fees: $75 million
- Audit-related fees: $20.8 million
- Tax fees: $1.8 million
- Other fees: $0
Total: $97.6 million
2016
- Audit fees: $81.5 million
- Audit-related fees: $6.9 million
- Tax fees: $1.5 million
- Other fees: $0
Total: $89.9 million
2017
- Audit fees: $95.8 million
- Audit-related fees: $45.4 million
- Tax fees: $1.7 million
- Other fees: $0
Total: $142.9 million
2018
- Audit fees: $63.7 million
- Audit-related fees: $40.2 million
- Tax fees: $700,000
- Other fees: $0
Total: $104.6 million
2019
- Audit fees: $61.1 million
- Audit-related fees: $13.9 million
- Tax fees: $4.1 million
- Other fees: $0
Total: $79.1 million
Related article:
Auditor Swap: General Electric and KPMG Officially Call It Quits
