In terms of SEC audit clients, BDO USA once again had another strong quarter. The Global Six firm added 12 clients and lost 6, for a net gain of 6 new clients in the quarter. The firm added 8 clients last quarter, so stand on 14 for the year. This continues a very strong 18 months for BDO, which led the SEC auditor wins and losses last year with a total gain of 57 clients.
But the surprise winner for the quarter was Marcum LLP, who tied KPMG for the most wins in the quarter with 10 each. Many of the clients switching to KPMG came as a result of their long-proposed acquisition of Rothstein Kass. The chart below shows the wins and losses for the major global and national accounting firms, including a breakdown of where the wins and losses came from. (Click to expand the image.)
As usual, in the following tables we disaggregate auditor changes according to company size. The first table shows the top wins and losses for Large Accelerated Filers, i.e., those with public float of more than $700 million.
The next table presents wins and losses for Accelerated Filers, which are companies with public float between $75 million and $700 million.
And the last table presents the top five gains and losses for Smaller Reporting Companies.
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