Among large firms, KPMG and Marcum LLP tied for the most new Securities and Exchange Commission audit clients in the second quarter of 2014.
The Big Four firm brought in a total of 17 new clients overall, netting 10, while Marcum brought in 10 overall, with no departures. (See "Q2 Client Gains & Losses.")
As many as seven of KPMG's new clients came as part of its acquisition of Top 100 Firm Rothstein Kass, which was made official in late May. KPMG led in terms of gains among new large accelerated and non-accelerated filers, while Marcum was No. 1 in new clients among smaller reporting companies. (See "Audit Leaders.")
EY topped two of our other lists -- in large part thanks to its being engagement by extraction giant Newmont Mining, it had $11 billion in market cap and $24 billion in assets audited. (See "New Client Leaders.") BDO was tops in terms of new audit fees, with a single client, Bermuda-based insurer Tower Group International, accounting for $17 million of its almost $22 million in new fees.
KPMG wasn't the only firm that gained by acquisition -- Pritchett Siler & Hardy, for instance, gained three new clients by merging in Morrill & Associates.
Michael Albanese CPA, meanwhile, picked up a number of clients from Jeffrey & Co., which had its registration with the Public Company Accounting Oversight Board revoked after failing to abide by partner rotation rules, according to The Auditor Carousel blog. (See "Overall Engagement Leaders")
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 firstname.lastname@example.org.
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