Grant Thornton leads in Q2 new SEC audit clients

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Top 6 Firm Grant Thornton topped the list of net new Securities and Exchange Commission audit clients in the second quarter of 2020.

The Chicago-based firm brought on 11 new engagements and netted eight. Big Four firm Ernst & Young actually added more new clients, with 12, but netted fewer, with four. (See “Client gains & losses”)

Lakewood, Colorado-based BF Borgers (which had brought on the most new SEC clients in the first quarter) came in second in Q2, netting six out of seven new engagements. (See “Net engagement leaders.)

Clients by filing status and more

Not surprisingly, the three firms led the league tables for new clients by filing type, with EY bringing on the largest accelerated filers, Grant Thornton bringing on the most new accelerated filers, and BF Borgers bringing on the most smaller reporting companies. (See “Audit leaders.”)

With so many large new clients, EY topped the lists of new market cap audited (thanks largely to the $18.86 billion from beverage company Brown Forman Corp., which owns Jack Daniel’s), of new assets audited (where the biggest contribution by far was the $23.33 billion from the SPDR Index Shares Funds), and of new audit fees (where industrial flow-control products manufacturer. Circor International Inc. stood out for its $7.42 million). (See "New client leaders.")

Big Four firm Deloitte came in second in terms of new market cap audited, with almost all of it due to the $5.57 billion from collaboration software developer Smartsheet Inc. Grant Thornton took second in new assets audited, with no single client standing out, as well as in new audit fees, with high-precision component manufacturer NN Inc.’s $4.5 million making up the biggest individual contribution.

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, or

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