Auditor Changes Roundup: Q2 2018

Deloitte, with a net of 13 new SEC audit clients, accounts for the most new SEC audit clients among all firms this quarter. Deloitte’s 15 new engagements in Q2 was the highest of any firm, as noted by Accounting Today. BDO USA, Grant Thornton, RSM US, Marcum, and BKD also had a net increase in new SEC audit clients.

As seen in the matrix below, there were 56 new engagements and 60 departures during Q2 among the major global and national firms.

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 gained or lost, and also the auditor from or to which the client was won or lost.

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In the following tables, we disaggregate 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 audit firm for Large Accelerated Filers again this quarter, with three new SEC audit clients. Crowe and PwC each had two new SEC audit client engagements.

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.

Deloitte lead the way among Accelerated Filers with seven new SEC audit clients and one departure, for a net of six new SEC audit clients.

The last table presents the top five gains and losses for Smaller Reporting Companies.

RBSM, with a net of five new SEC audit clients was the top firm among the Smaller Reporting Companies. BF Borgers and Deloitte were not far behind, both with four new SEC audit clients.

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