General Motors (NYSE: GM) announced last week in an Item 4.01 8-K that, after their 2017 annual report is filed, the company would be engaging Ernst & Young as its new independent auditor. Following review of proposals from the independent registered public … Continue reading
Category Archives: Auditor Tenure
Auditor Market Share of the S&P 500
We got a question this morning on Twitter about auditor market share for the S&P 500. While we’ve done plenty of market share analyses before, we hadn’t looked at that particular group of companies. Followers of this blog – and … Continue reading
A Century of Opinions: Companies with auditor tenure over 100 years
Note: This post has been edited from a previous version. With the new Form AP auditor engagement requirements soon to be in place, there is much discussion surrounding tenure. In previous posts, we noted that average tenure is between 16-23 years. For this … Continue reading
Auditor Tenure and Auditor Rotation Among the Russell 1000
Last year, we looked at a sample of auditor tenure and auditor rotation among the Russell 3000. In that post we found that long auditor tenure is quite common in the U.S. and auditor turnover remains consistently low. In this … Continue reading
An Auditor Merry-go-Round
There has been much discussion in recent years concerning auditor tenure, with most of the attention fixed on companies with exceptionally long auditor relationships. In a previous post, we noted that the average auditor tenure among the Russell 3000 was 16 years. … Continue reading
Auditor Tenure and Auditor Rotation among the Russell 3000
Last year, in a post about Honeywell International (NYSE: HON) switching auditors after a 45-year relationship with PwC, we looked at a sample of auditor tenure across the S&P 500. The main takeaway: long auditor tenure is not unusual in the U.S., and … Continue reading
Moving to Europe? Auditor Tenure and Reg 537
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Corporate income taxes continue to be a hot topic in the news, especially with the recent controversy surrounding inversions. At the center of many of these debates are the foreign earnings that multinational companies claim to be indefinitely reinvested. Such … Continue reading