Despite the hundred plus IPOs that took place last year, the public company population for this analysis is down from 6,935 to 6,460, a net loss of 475 registrants. The biggest decrease was in the number of so-called “Smaller Reporting Companies”.
This contraction in the number of smaller companies helped the top 10 firms that audit public companies increase their total market share, growing by one percent in comparison to last year’s top 10. The Global Six firms, together with MaloneBailey, Marcum, RSM, and Crowe Horwath audited over 61% (3,985) of the 6,460 public registrants.
Smaller Reporting Companies, which account for the largest number of public audits, experienced the greatest decrease in population with almost a 12% drop. In terms of market share, the top five firms, which together audit 18.6% of Smaller Reporting Companies, include MaloneBailey, BDO USA, Marcum, RBSM, and BF Borgers.
The Big Four, BDO, RSM, and Grant Thornton collectively audit 286 smaller reporting companies, accounting for an 11% share of the market. The remaining 89% are audited by over three hundred other firms.
Large Accelerated Filers, those with a public float of more than $700 million, decreased in population by 2.9%, and Accelerated Filers (public float between $75 million and $700 million) decreased by 4.1%. The Global Six led the audits for both the Large Accelerated and Accelerated Filers with 96.5% and 71.4%, respectively. Ernst & Young audited the most number of companies in both markets by a good margin.
Non-Accelerated Filers, dropping by only 1.5%, had the lowest population decrease from the prior year. Of the 543 Non-Accelerated Filers, the Big Four together with Grant Thornton, RSM, BDO, and Marcum, audited the most number of companies for a total market share of approximately 73%. The remaining 27% is shared by 72 other audit firms.
Other Audit Analytics datasets which profile audit firm market share intelligence include:
- Registered Investment Advisors
- Private Funds
- Broker Dealers
- ERISA Benefit Plans
- NAIC Insurance Companies
- Bank Holding Companies
- Canadian (SEDAR) Filers
- European Union Listed Companies
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