Big Four firm PricewaterhouseCoopers far outstrips other CPA firms when it comes to auditing mutual funds of all types, according to a recent analysis.
Data analyzed by Audit Analytics show that PwC audits 41.1 percent of all mutual funds registered with the Securities and Exchange Commission. That put it far ahead of its fellow Big Four firms, with Ernst & Young auditing 16.9 percent, Deloitte auditing 15.7 percent, and KPMG auditing 11.6 percent.
In terms of fund size, PwC audits the majority of large cap and mid cap funds (65 percent and 55 percent, respectively), and a plurality of small cap and micro cap funds (40 percent and 33 percent, respectively).
It also leads in all subcategories of fund type, auditing a quarter of all closed-end funds (just ahead of Deloitte’s 24 percent); fully half of all exchange-traded funds; 43 percent of all money market funds; and 41 percent of open-ended funds.
In fact, the only subcategories of funds where PwC didn’t rank first were in two regional breakdowns: Top 100 Firm Cohen & Co. audits the most funds in the Midwest with 850, with PwC coming in second with 707, while Deloitte holds the lead in the West, with 475 fund engagements, versus PwC’s 457.
Data provided by Audit Analytics’ Mutual Fund Auditor Engagements database, part of the new
