The SEC recently announced settled charges with Under Armour [NYSE: UAA] related to certain disclosure failures and making misleading statements to investors. The charges were notable, as the SEC enforcement action alleged that Under Armour engaged in manipulative revenue practices … Continue reading
Monthly Archives: May 2021
Snapshot: Companies with Revenue Between $10M and $150M
Audit Firm Market Share The Big Four – Deloitte, EY, KPMG, and PwC – largely dominate audit firm market share for SEC registrants. However, the landscape varies substantially depending on the size of the company. The Big Four globally dominate … Continue reading
Academic Spotlight: Auditor Ratification’s Impact on Audit Quality
Research shows that shareholder dissatisfaction improves audit quality. In June of 2020, Paul Tanyi, Gregory Martin, Dasaratha Rama, and K. Raghunandan published research in Accounting Horizons that measured shareholder votes against the ratification of an audit firm in the proxy statement. Their … Continue reading
Auditor Changes Roundup: Q1 2021
Note: This blog has been updated to reflect a correction in the first table. A previous version displayed gross audit fees won, the updated version shows net audit fees won. Grant Thornton, with a net of 12 new SEC audit … Continue reading
Audit Firm Market Share of ERISA Benefit Plans
Entities, or sponsors, that offer post-employment benefit plans are required by ERISA (the Employee Retirement Income Security Act of 1974) to disclose audited financial information to plan beneficiaries. Unlike the public company audit market, which is dominated by the Big … Continue reading