Mergers propelled two firms to the top of our quarterly ranking of new Securities and Exchange Commission audit clients, with BDO USA in the top slot with a net of 18 new clients, with Baker Tilly Virchow Krause close behind with a net of 15.
BDO got a big boost from its acquisition of the Texas practice of Top 100 Firm UHY LLP, which closed in December 2014 and added 16 clients, many of which are in the energy sector, an important focus for the firm. BTVK, meanwhile, closed a deal in October to bring in Philadelphia-based super-regional ParenteBeard and 17 clients, including several in the banking and financial services space. (See “
With such strong numbers, it’s no surprise that the two firms topped the lists among different types of filers, with BDO leading in new non-accelerated files and large accelerated filers, while BTVK led in new accelerated filers, and among smaller reporting companies. (See "
However, when measured by new market capitalization audited, new assets audited, and new audit fees, the Big Four took over, with PwC taking the top spot in the first two categories due to its engagement by Huntington Bancshares, a bank holding company with over $8 billion in market capitalization and over $64 billion in assets. EY led in audit fees due largely to the $10 million it’s being paid by packaging giant Sealed Air. (See "
Data for the quarterly rankings are provided by Audit Analytics, a premium online intelligence service delivering audit, regulatory and disclosure analysis. Reach them at (508) 476-7007,
