One thing that hasn’t slowed down too much during the Rona pandemic is the game of auditor musical chairs, as there were 51 new SEC audit client engagements and 62 departures in the second quarter among the 12 major global or national accounting firms compared to 57 new engagements and 68 departures in Q1, according […]
Huh. Did you know there were 62 initial public offerings this past quarter? I didn’t. Then again, IPOs aren’t at the top of my “must keep track of” list with everything else going on in the world right now. But now that Audit Analytics has released its latest analysis on Q2 IPO auditor market share, […]
EY having the most public company audit clients in 2020 isn’t really the biggest news coming out of Audit Analytics’ latest analysis of public company auditors because the Black and Yellow has led each of the past half-dozen years. The bigger news is there’s a different Big 4 firm occupying second place. While EY has […]
It’s that time of year when our friends over at Audit Analytics begin to roll out their quarterly reports on initial public offerings and auditor market share. The research firm’s first quarter analysis is out, and there was a four-way tie for most IPOs audited in Q1—and it wasn’t a Big 4 sweep. But before […]
Our friends at Audit Analytics just released their analysis of the initial public offering auditor market share for the fourth quarter of 2019. But before we look at Q4’s results, let’s quickly review the previous three quarters’ IPO audit engagement leaders: Q1: Marcum 8 ($896 million raised) Q2: Deloitte 17 ($7.87 billion raised) Q3: EY […]
The firm that puts the EY in cringEworthY training seminars for women audited the most initial public offerings in the third quarter, according to a new analysis from Audit Analytics. #Auditor Market Share for 53 #IPO companies in Q3 2019: EY: [20.8%];Marcum: [13.2%];Deloitte: [11.3%];PwC: [11.3%];KPMG: [11.3%];All Others: [32.1%] — Audit Analytics (@AuditAnalytics) October 10, 2019 […]
After a reeeeal slow start to 2019 due to the government shutdown, initial public offerings picked up the pace in the second quarter, nearly doubling the number of IPOs in the first quarter and including two of the top 10 largest IPOs since 2000. An Audit Analytics analysis revealed that between April 1 and June […]
I know you guys are just dying to know the answer to this question, so let’s get right to it. Audit Analytics recently came out with its breakdown of the top 20 audit firms that had the most insurance clients in 2018. Yes, the Big 4 firms took the top four spots, combining for 2,300 […]
Our friends over at Audit Analytics just came out with its 2019 analysis of public company auditors in the U.S., and the results are exactly what you would expect: the Big 4 firms audit just under half of all public companies, and EY audits the most by a pretty wide margin. If you add up […]
This is a question you've probably never asked yourself but now that you're here, you're dying to know. Our friends over at Audit Analytics broke it down and figured out not only which of the Big 4 audits the most large accelerated and accelerated filers but also how many of those filers are audited by […]
From the first moment the Rothstein Kass KPMG rumors started circling the bowl, it was pretty clear that RK's golden child is its hedge fund practice. Surely KPMG wasn't interested in the deal just so they could acquire Rothstein Kass' novelty cell phone stand named Trusty. Well, Audit Analytics put things in handy chart form […]
Accounting Today has shared Audit Analytics data on the Q4 2013 auditor shuffle and of large and national firms, Marcum came out on top with a net gain of five. I'm no mathlete but that's a whole… er… well it's more than EY's -6 net: Big Four firm KPMG and McGladrey followed up with net […]
Audit Analytics puts together some great data points from time to time, and this latest on audit fees by industry is no exception. Let's take a peek: In this entry, we investigated the relative audit fees of Russell 3000 companies on a broader industry basis (using the NAICS classification system), looking at audit fees compared to […]
We tracked over 1,000 auditor changes so far in 2013, compared to around 900 for all of 2012. #auditorchanges — Audit Analytics (@AuditAnalytics) November 8, 2013
Our friends at Audit Analytics have all the fun info: 445 companies have reported #DisclosureControl issues with their Board, Audit Committee, or Corporate Governance thus far in 2013. #SOX302 — Audit Analytics (@AuditAnalytics) September 9, 2013 (cont.) Of those 445 companies, 401 determined that the Audit Committee, Board, or Corp. Gov. issue led to ineffective […]
Remember this chart from last month? #CPA link: Mo' Money, Mo' Problems: Faulty Big Four audits climb (along with their fees) http://t.co/M57S1ovtX9 pic.twitter.com/4wHa1xmQ9h — Rick Telberg (@CPA_Trendlines) August 15, 2013 Yep, the one where EY!'s deficient audits blast off like rockets into Syria. It's the kind of info that doesn't make any of the new EY! […]
Courtesy of our friends at Audit Analytics, who have just issued a new study evaluating the trends of audit fees and non-audit fees earned from accelerated filers over the past 11 years. As you can see, it appears that audit firms have found a comfort zone in its split between audit/non-audit fees. And in this […]
Because Jonathan Weil is wondering.
He noticed that Audit Analytics found that 699 SEC-registered companies filed restatements last year which was slightly higher than ’09. This was considerably less than the 1,566 restatements in ’06 but when it came to the number of banks that had restatements, he noticed something strange:
The figures for banks, in particular, look unnaturally low. Forty-four banks restated last year, one fewer than in 2009. Even more curious, there were 133 banks that issued corrections from 2008 through 2010. That was down from 169 banks during the previous three-year period, before the financial crisis took off in earnest, which makes no sense.
Here we had the greatest banking industry meltdown since the Great Depression. Hundreds of lenders failed. And yet the number of banks correcting accounting errors declined while the collapse was unfolding. There were no restatements by the likes of IndyMac, Washington Mutual or Lehman Brothers, for example. The obvious conclusion is the government has been giving lots of banks a free pass, as have their auditors.
Honesty for Banks Is Still Such a Lonely Word [Bloomberg]