We previously looked at the leading states for benefit plans, by both the overall number of plans and by the amount of assets audited. For this article, we breakout the top five auditors for each state by the number of plans.
Not surprisingly, we see a majority of non-Big Four firms, as they tend to dominate the benefit plan market.
Moss Adams leads California by a large margin. Miller Kaplan Arase & Co is next with 4% of the Golden State’s ERISA market share.
Bonadio & Co audits the most number of New York ERISA plans. Two firms compete for second place, each having 4% of the market- PKF O’Connor Davies and PricewaterhouseCoopers.
Whitley Penn and Weaver & Tidwell each audit 5% of the market. Competition is tight in Texas where only 35 plans separate the first and fifth place benefit plan auditor. BDO USA, Montogmery Coscia Greilich and BKD round out the top five.
Baker Tilly Virchow Krause leads Pennsylvania with 451 benefit plan audits, accounting for 11% of the total PA market. Schneider Downs & Co follows with almost 200 ERISA benefit plan audited.
At 31%, the top five auditors for Illinois together audit the largest percentage of an above mentioned states’s ERISA market. RSM US leads with 322 audited plans, followed by Crowe Horwath and Plante & Moran who each account for 7% of the IL market.
This data is based off of 2016 filing year, with a filing deadline of October 15, 2017.
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