Moss Adams, with a net of 35 new SEC audit clients, accounts for the most new SEC audit clients among all firms this quarter, taking the lead of all company size categories (see tables below). Their combination with Hein & Associates in November explains the significant increase in new clients. As noted by Accounting Today, 33 of Moss Adams’ new SEC audit clients came from the merger with Hein & Associates. Following is Marcum LLP, with seven audit client engagements and 1 departure for a net gain of six new SEC audit clients. KPMG also had an increase in new SEC audit clients this quarter, with a net of one new client.
Overall, there was a decrease in SEC-client auditor change activity among the major global and national firms compared to last quarter.
The table below presents a comprehensive view of the gains and losses of eleven 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, alongside Moss Adams, led the way for Large Accelerated Filers this quarter with a net of one new SEC audit client each.
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.
Finally, the last table presents the top five gains and losses for Smaller Reporting Companies.
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