Auditor Changes Roundup: Q4 2016

It was another quiet quarter in terms of SEC-client auditor changes. KPMG brought in four new SEC clients, the most for Q4 of 2016. Crowe Horwath and RSM US were the only firms to see a net increase in SEC clients this quarter. Both Crowe Horwath and RSM US had two wins, for a net gain of two and one, respectively.

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.
large-accelerated-filers-q4-2016The 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.
accelerated-filers-q4-2016Finally, the last table presents the top five gains and losses for Smaller Reporting Companies.
smaller-reporting-companies-q4-2016There was little activity for the Large Accelerated filers and Accelerated filers. Among the Large Accelerated filers, BDO USA, KMPG, and Ernst & Young tied with a net gain of one new SEC client each this quarter. Crowe Horwath had two wins, the most for all the Accelerated filers.

The most activity for Q4 was seen among the Smaller Reporting Companies. AMC Auditing had 23 wins and 1 loss for a net of 22 new clients. The new clients came from the acquisition of Seale & Beers in the fall, as noted by Accounting Today. Fruci & Associates gained 10 new clients from George Stewart CPA, netting a total of 14 new clients.

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