In a recent WSJ article entitled, Move to Semiannual Reporting Would Benefit Small Companies the Most, the article details how the move to semi annual reporting will help small companies especially with audit costs.
A brief summary of the article notes President Trump asking the Securities and Exchange Commission (SEC) to consider semi-annual rather than quarterly reporting. While moving to semi-annual reporting would benefit smaller companies, "the cost savings likely wouldn't be significant for larger firms." Costs of external audits are estimated relative to total revenues; concepts related to internal costs of financial reporting also are discussed. Potential cost savings from reduced frequency of periodic reporting are assessed via conversations with two former audit partners and one former member of the leadership of the SEC's Division of Corporate Finance. You may access the article here.