Top 100 Firm Moss Adams took a strong lead in new Securities and Exchange Commission audit clients in the last quarter of 2017, adding 35 engagements largely thanks to its merger with Denver-based Top 100 Firm Hein & Associates.
The combination, which was announced in August and completed on Nov. 1 of 2017, gave Seattle-based Moss Adams 33 of its 35 new SEC clients in Q4. (See “Net Engagement Leaders.”)
The extra engagements also helped Moss Adams rank first in terms of large accelerated filers, accelerated filers in general, and among new smaller reporting companies brought on board. (See “Audit Leaders.”)
New York-based Marcum topped the league table of the largest auditors by a significant amount, with seven new engagements and a net of six. (See “Q4 Client Gains & Losses.”)
Big Four firm PricewaterhouseCoopers’ two new engagements in the quarter propelled it to the top of the rankings for new market capitalization audited and new assets audited, thanks in large part to signing on the Kansas City Southern, a railroad with $9.13 billion in market cap, and $8.81 billion in assets. Adding money management company Carillon Series Trust, with $5.86 billion in assets, also helped. (See “New Client Leaders.”)
KPMG led in terms of new audit fees, with in-flight entertainment company Global Eagle Entertainment’s $18.87 million making up the bulk of its overall $19.91 million. It also came in second in new market cap audited, thanks largely to life insurer FGL Holdings’ $2.15 billion.
Rounding out the leaders was Deloitte, which took second in new assets audited, thanks to the $4.8 billion in assets held by IStar, a REIT.
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, email@example.com or www.auditanalytics.com.
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