The most frequently searched question for all Big4s are who are their largest audit clients. In the previous blog we looked into how KPMG stacks in regard to audit clients versus the total S&P 500 Companies. Below is a scatterplot showing the audit fee distribution of KPMG clients in the US.
Here is the list of top 25 clients of KPMG in terms of total fees in millions. The financials and industrial sectors are the major contributors in terms of fees for KPMG. Citigroup is KPMG’s biggest audit client generating a fee revenue of $97 million. GE, Wells Fargo, and BNY Mellon occupies the second, third, and fourth place respectively. These 25 clients together contribute $676 million in audit fees for KPMG. KPMG’s total global audit revenues for FY20 was $11 billion.
| Security | GICS Sector | Audit Fees | Audit Related Fees | Tax Fees | Other Fees | Total |
|---|---|---|---|---|---|---|
| Citigroup Inc. | Financials | 67 | 21 | 9 | 0 | 97 |
| General Electric | Industrials | 61 | 14 | 4 | 0 | 79 |
| Wells Fargo | Financials | 46 | 4 | 7 | 0 | 57 |
| The Bank of New York Mellon | Financials | 21 | 23 | 2 | 0 | 47 |
| Pfizer Inc. | Health Care | 41 | 1 | 5 | 0 | 47 |
| General Dynamics | Industrials | 25 | 2 | 2 | 0 | 29 |
| Baker Hughes Co | Energy | 27 | 0 | 0 | 0 | 28 |
| PepsiCo Inc. | Consumer Staples | 24 | 1 | 0 | 0 | 26 |
| Omnicom Group | Communication Services | 23 | 0 | 0 | 0 | 24 |
| Accenture plc | Information Technology | 20 | 1 | 1 | 0 | 23 |
| Emerson Electric Company | Industrials | 20 | 2 | 1 | 0 | 23 |
| FMC Corporation | Materials | 16 | 1 | 1 | 1 | 19 |
| CBRE Group | Real Estate | 13 | 3 | 2 | 0 | 18 |
| CenturyLink Inc | Communication Services | 18 | 0 | 0 | 0 | 18 |
| Occidental Petroleum | Energy | 16 | 0 | 0 | 0 | 16 |
| Western Digital | Information Technology | 10 | 0 | 5 | 0 | 16 |
| Fidelity National Information Services | Information Technology | 13 | 0 | 1 | 0 | 14 |
| Centene Corporation | Health Care | 12 | 1 | 0 | 0 | 13 |
| Estée Lauder Companies | Consumer Staples | 11 | 0 | 2 | 0 | 13 |
| Halliburton Co. | Energy | 12 | 0 | 0 | 0 | 12 |
| Visa Inc. | Information Technology | 10 | 2 | 1 | 0 | 12 |
| SVB Financial | Financials | 11 | 1 | 1 | 0 | 12 |
| Zoetis | Health Care | 10 | 0 | 1 | 0 | 11 |
| NortonLifeLock | Information Technology | 11 | 0 | 0 | 0 | 11 |
| General Mills | Consumer Staples | 8 | 1 | 2 | 0 | 11 |
Do read our posts on KPMG’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.