The second quarter of 2017 saw an increase in the number of SEC-client auditor changes among the major global and national firms from last quarter. Overall, there were 58 new engagements this quarter, compared to 48 in Q1. Deloitte was the leader (for the second quarter in a row) with 15 gains and 6 losses, for a net of 9 new clients. RSM US, Crowe Horwath, Marcum, and Grant Thornton also had net increases in new clients this quarter.
The table below presents a comprehensive view of the gains and losses of the major global and national firms. It shows how many SEC audit clients each auditor won or lost, and maps to the auditor engaged or dismissed.
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In the following tables, we breakdown the auditor changes by the size of the companies gained or lost, as represented by the companies’ filing status. The first table shows auditor changes for Large Accelerated Filers, i.e., those with a worldwide public float of more than $700 million.
Deloitte was the top auditor for the Large Accelerated Filers again this quarter, with seven new engagements and two losses, for a net of five new clients.
The next table presents a sample of the largest wins and losses for Accelerated Filers, which are companies with public float between $75 million and $700 million.
Ernst & Young had the most client wins for Accelerated Filers with seven new engagements. Additionally, both RSM US and Ernst & Young netted three new clients in this category.
Finally, the last table presents the top four gains and losses for Smaller Reporting Companies.
Assurance Dimensions was the top audit firm among the Smaller Reporting Companies, gaining eight new clients this quarter. Assurance Dimensions gained new clients when they merged with D’Arelli Pruzansky PA in May, as noted by Accounting Today.
BF Borgers CPA was not far behind, with eight client wins and two losses, for an overall net of six new clients.
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