With 15 new Securities and Exchange Commission audit clients in the second quarter of 2018, Deloitte had a commanding lead over both its large-firm competitors and the auditing field as a whole. (See “Q2 Client Gains & Losses.”)

Top 7 Firm BDO USA came in second for the quarter, with eight new clients (though it only netted two), and Grant Thornton placed third, with seven (netting three).

On a net basis, Deloitte did even better, with 13, almost three times as many as its nearest competitor, M&K CPAs, which netted five new clients. It was an extremely busy quarter for new engagements, but most of the auditors on the current list reported a single new client. (See “Net Engagement Leaders.”)

Deloitte’s strong performance helped it lead the league tables for new large accelerated filer clients and new accelerated filer clients, but no clear leader emerged among those bringing on new non-accelerated filer clients. For new smaller reporting company engagements, New York-based RBSM and Lakewood, Colorado-based BF Borgers CPA topped the list, netting five and four, respectively. (See Audit Leaders.”)

Finally, while Deloitte brought on by far the most net and new clients, a surprise firm took first place in terms of new assets and new market cap audited: Walker Chandiok & Co., which signed on the second largest bank in India, ICICI Bank, with $172.9 billion in assets and $25.9 billion in market cap. (The previous auditor had come up against the four-year term limit set by the Reserve Bank of India.)

PricewaterhouseCoopers came in second for new market cap audited, with a total of $18.6 billion, $14.7 billion of which came from signing on broadcasting equipment manufacturer Motorola Solutions.

Deloitte came in second for new assets audited, with a total of $38.9 billion, $25.7 billion of which came from the savings institution Umpqua Holdings.

The Big Four firm led in terms of new audit fees, however, with $20 million; while PwC took second, with $16.5 million.

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, info@auditanalytics.com or www.auditanalytics.com.

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