PwC is one of the biggest audit firms in the world. They operate through a network of firms across the world. PwC recently reorganized its assurance and tax services as “Trust Solutions.” The services under Trust solutions for PwC are (1) Financial Statement Audit (2) ESG Reporting Services (3) Tax Services (4) Digital Assurance and Transparency (5) PwC Private (6) Governance Insights Center.
A closer look at PwC’s audit clients within S&P 500 companies. PwC’s biggest market share is within the Materials industry where it audits 54% of the companies in this market. Followed by Healthcare and Energy where PwC audits 43% and 35% of the total companies. In dollar terms, the largest share of fees for PwC comes from the Financial sector, $585 million. One sector where PwC lags is the Real Estate market where it audits only 13% of the companies in this sector. In the next few posts, we’ll go over some of the largest audit clients of PwC and their market presence in various sectors.
The below chart shows PwC’s share of major US audit clients spread across the different Industry sectors
| GICS Sector | PwC # clients | Total Industry (#) | % | PwC audit fees ($ M) | Total Industry audit fees ($ M) | % |
|---|---|---|---|---|---|---|
| Financials | 19 | 66 | 29% | 585.19 | 1438.89 | 41% |
| Health Care | 26 | 61 | 43% | 335.71 | 848.32 | 40% |
| Information Technology | 20 | 71 | 28% | 279.52 | 841.72 | 33% |
| Industrials | 17 | 69 | 25% | 253.68 | 876.49 | 29% |
| Materials | 15 | 28 | 54% | 229.12 | 393.82 | 58% |
| Consumer Discretionary | 15 | 62 | 24% | 199.56 | 568.64 | 35% |
| Communication Services | 7 | 22 | 32% | 153.34 | 471.79 | 33% |
| Energy | 9 | 26 | 35% | 144.59 | 297.39 | 49% |
| Consumer Staples | 11 | 33 | 33% | 127.75 | 425.49 | 30% |
| Utilities | 9 | 28 | 32% | 98.19 | 263.40 | 37% |
| Real Estate | 4 | 31 | 12% | 18.47 | 141.17 | 13% |
| Grand Total | 152 | 497 | 2,425.11 | 6567.13 |
Do read our posts on PwC’s audit clients across the various US States and their corresponding Audit Fees. Subscribe to our posts for information on Big4 firms. If there is some data point that you would like us to analyze, just drop in a comment. We are starting a new blogpost to collect the salary data to help all current and prospective employees of accounting firms. So if interested, update the form and results will be published soon.
