August 20, 2018

Deloitte Gobbled Up the Most New SEC Audit Clients in Q2; EY and KPMG Threw Up a Bunch of Clients

After two Utah-based firms you might not have ever heard of picked up the most new Securities and Exchange Commission audit clients in the first quarter of 2018, Deloitte was the big winner in the second quarter, snagging 15 new engagements, with a net of 13, according to Accounting Today.

BDO USA was the runner-up with eight new clients (net of two), followed by Grant Thornton with seven (net of three).

The data, which was provided to AT by research firm Audit Analytics, shows that the Green Dots’ 13 net engagements was nearly three times as many as its nearest competitor—that being M&K CPAs, which netted five new clients in Q2.

AT goes on to say:

Deloitte’s strong performance helped it lead the league tables for new large accelerated filer clients and new accelerated filer clients, but no clear leader emerged among those bringing on new non-accelerated filer clients. For new smaller reporting company engagements, New York-based RBSM and Lakewood, Colorado-based BF Borgers CPA topped the list, netting five and four, respectively.

But let’s sneak away from AT’s article for a moment and go to the blog Audit Analytics posted today about the Q2 results to see who the big losers were. Deloitte’s Q2 is humblebrag-worthy compared to the other Big 4 firms, which gained a combined nine new audit clients but lost a combined 30 clients (EY net -10, KPMG net -9, and PwC net -2).

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Image: iStock/AZemdega

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MGM Back From the Brink — for Now
[Motley Fool]