A relatively quiet week in terms of auditor changes. BDO lost two clients who collectively bought in $1.16 million in audit fees last year while EY lost a client which bought in $470K in audit fees.
A week with quite a few changes despite the COVID-19 pandemic. KPMG lost a big client in Global Eagle Entertainment during the week. This client bought in $7 million in total fees for KPMG. Marcum LLP had a big week with 4 wins including Global Eagle Entertainment. The details of changes for the week is as follows:
Bad week for KPMG with three losses. Around $3 million in annual audit fee loss. There are some interesting changes for this week. Sportsman’s Warehouse Holdings Inc. dismissed KPMG and appointed GT. KPMG had reported a material weakness on the ITGC general controls over IT systems that support the company’s financial reporting processes for the fiscal year ended February 1, 2020. SusGlobal Energy Corp dismissed KPMG and appointed MNP LLP as it auditors. The interesting fact here is that KPMG acquired the previous independent auditor, SF Partnership LLP in May 2020. SF Partnership is chartered accounting firm in Ontario, Canada. The details are below: