PwC literally rules the audit market in the Carolina’s. It has 11 out of the 16 S&P 500 clients. These 11 audit clients together bring in $179 million in total fees. Bank of America is the largest client of PwC with $67 million in total fees. KPMG has no S&P 500 audit client in the Carolina’s. Here is a summary of clients in this market.
| Auditor | # of companies audited | Total fees ($M) | % |
|---|---|---|---|
| Deloitte | 3 | 22.12 | 11% |
| PwC | 11 | 179.36 | 87% |
| EY | 2 | 4.46 | 2% |
Deloitte’s biggest client in the Carolina market is Duke Energy which brings in $14.27 million in audit fees.
| Company | Headquarters Location | Auditor | Total ($ million) |
|---|---|---|---|
| Bank of America Corp | Charlotte, North Carolina | PwC | 66.70 |
| V.F. Corp. | Greensboro, North Carolina | PwC | 23.44 |
| Truist Financial | Charlotte, North Carolina | PwC | 23.17 |
| Duke Energy | Charlotte, North Carolina | Deloitte | 14.27 |
| Sealed Air | Charlotte, North Carolina | PwC | 13.67 |
| IQVIA Holdings Inc. | Durham, North Carolina | PwC | 12.49 |
| Dentsply Sirona | Charlotte, North Carolina | PwC | 12.20 |
| Laboratory Corp. of America Holding | Burlington, North Carolina | PwC | 6.94 |
| Albemarle Corp | Charlotte, North Carolina | PwC | 6.89 |
| Hanesbrands Inc | Winston-Salem, North Carolina | PwC | 6.40 |
| Nucor Corp. | Charlotte, North Carolina | PwC | 4.54 |
| Lowe's Cos. | Mooresville, North Carolina | Deloitte | 4.10 |
| Advance Auto Parts | Raleigh, North Carolina | Deloitte | 3.75 |
| Qorvo | Greensboro, North Carolina | EY | 3.59 |
| Martin Marietta Materials | Raleigh, North Carolina | PwC | 2.92 |
| Old Dominion Freight Line | Thomasville, North Carolina | EY | 0.87 |
Look into our other blog posts for a listing of big 4 accounting firms and their respective S&P 500 audit clients. Subscribe to our posts for up to date information on Big4 firms and if there is some data point that you would like us to analyze, just drop in a comment.