Insurance companies registered with the National Association of Insurance Commissioners (NAIC) are required to file audited financial statements unless an exemption is granted. In 2019, 223 different auditors reviewed financials for 3,950 insurance firms. In comparison, in 2020, 219 different … Continue reading
Category Archives: OIA (Other Independent Audits)
Auditors of Broker-Dealers
Firms that are in the business of buying and selling securities, either for their own purposes or on behalf of their clients, are known as broker-dealers. To comply with rules set by the Securities and Exchange Commission, broker-dealers are generally … Continue reading
2020 Audit Market Share of Depository Institutions
Insured depository institutions with total assets above $500 million are required to obtain an audit of their financial statements by an independent auditor to comply with the Federal Deposit Insurance Corporation (FDIC) regulation Part 363 – Annual Independent Audits and … Continue reading
Auditor Market Share of ERISA Benefit Plans
Entities, or sponsors, that offer post-employment benefit plans are required by ERISA (the federal Employee Retirement Income Security Act of 1974) to disclose audited financial information to plan beneficiaries. ERISA establishes the minimum standards for employment benefit plans, including pensions, 401(k) … Continue reading
2021 Audit Market Share of Private Funds
Advisers of private funds with at least $150 million in assets under management are required to report with the SEC in Form ADV. Most private funds fall into two groups: hedge funds (27%) and private equity funds (41%). Other smaller … Continue reading
Who Audits Non-Profits
All organizations and entities that receive $750,000 or more in federal funding in a single fiscal period are required to obtain an audit by an independent accountant. This includes an audit of both the institution’s financial statements and the federal award. The provision applies to states, … Continue reading
Registered Investment Advisor Market Share Analysis
A registered investment advisor (RIA) is a person or firm who advises individuals on investments and manages their portfolios. An examination of the RIA auditor market share reveals a slight divergence from a typical public market share analysis. In comparison … Continue reading