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
Category Archives: Financial Services (OIA)
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
Registered Investment Adviser Market Share Analysis
A registered investment adviser (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
BDO Acquires MBAF
Recently, BDO USA LLP announced the acquisition of Florida-based MBAF LLC. This merger is significant, as MBAF is currently the 38th largest accounting firm in the US and the largest in South Florida. MBAF is one of the largest Hispanic-owned … Continue reading
The Audit Firms of Broker-Dealers
In 2018, 400 audit firms competed for market share among 3,661 total broker-dealers. The Big Four audited 16.7% of this population. PwC led the way with 172 broker-dealer clients, followed by EY with 168 clients, KPMG with 145 clients, and Deloitte with … Continue reading
When Does Insurance Cover Cyberattacks?
This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. In 2014, global life sciences technology company Medidata Solutions [MDSO] fell victim to a “phishing” attack, losing nearly $5 … Continue reading
Who Audits Insurance Companies – 2018
There were 4,217 insurance companies registered with the National Association of Insurance Commissioners (NAIC) during 2018, a slight increase from the 4,184 registered companies in 2017. Filing audited financial statements is required unless a company receives an exemption; 146 of … Continue reading