S&P 500 Companies and Their Auditors: A Comprehensive Analysis
EY audits the most number of S&P500 US companies followed by PwC. Deloitte and KPMG takes the third and fourth place respectively. GT audits 5 companies while BDO audits 1 company.
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Repository of salary details of Big4 employees.
Top Australian Companies and their auditors
We look into the top Australian companies in the ASX200 Index and their auditors. EY audits the most number of ASX200 companies followed by PwC.
Top UK Companies and their Auditors
This blogpost examines the top UK companies in FTSE 350 index, focusing on their auditors. PwC leads in the number of clients, auditing 95 companies with $336 million in revenue, while KPMG leads in total revenue, auditing 88 companies and generating $347 million.
Auditor Changes in January 2025
In recent months, several companies have changed their auditors due to various reasons, including mergers, policy shifts, and committee decisions. Notable changes include Potbelly Corporation appointing KPMG LLP after dismissing Deloitte and Wayfair Inc. replacing Ernst & Young LLP with PricewaterhouseCoopers LLP. Transparency in auditor relationships is crucial for businesses.
The Big Four: AI Innovations in Auditing
The integration of Generative AI in auditing enhances financial audits through improved risk assessment and fraud detection. The Big Four firms—Deloitte, PwC, EY, and KPMG—leverage AI-driven tools to increase efficiency and accuracy. However, challenges such as data reliability and regulatory concerns highlight the need for human oversight alongside technological innovation.
PCAOB recent sanctions
The Public Company Accounting Oversight Board (PCAOB) in September, 2024 imposed sanctions on five audit firms for violations related to audit committee communications and failure to report disciplinary actions, highlighting ongoing concerns about audit transparency and compliance.
Deloitte audit clients
Deloitte audits 21% of the total companies across all sectors in S&P 500. This significant market presence underscores Deloitte’s reputation and reliability in the auditing industry. Deloitte audits 28% of the companies in the Financials sector, which includes major players like MetLife Inc. and Morgan Stanley.
EY PCAOB Inspection report 2023
The PCAOB’s 2023 inspection of Ernst & Young LLP (EY) revealed that out of 59 audits inspected, 22 had Part I.A deficiencies. This was a slight improvement from 2022, where 25 out of 54 audits had deficiencies. In 2021, 12 out of 56 audits had Part I.A deficiencies.
Deloitte 2024 revenues
Deloitte earlier this week reported its global revenues for FY2024. Global revenues rose to $67.2 billion, an increase of 3.6% in dollar terms.
Auditor changes in September 2024
SEC registered companies are required to file form 8-K, item 4.01 notice in the event of a change in auditors. We analyze auditor changes for each month looking into auditor change and its reason.
PwC PCAOB Inspection Report 2023
PCAOB is the regulator for audit firms and it routinely reviews the audit work of firms registered under them. PCAOB reviewed 57 audits performed by PwC in 2023 and the deficiency was 18%.