kpmg new york Archives - Big4 by the numbers

Who are KPMG’s largest clients?

by enthusiastSeptember 11, 2020May 7, 2022KPMG

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.

KPMG audit clients

by enthusiastAugust 29, 2020June 27, 2021KPMG

KPMG is one of the biggest audit firms in the world. They operate through a network of firms across the world. The key audit topic areas of KPMG based on their website are (1) Environmental, Social and Governance (2) SPAC IPO readiness for Controllers and CFOs (3) Industrial Manufacturing and AI and (4) Climate risk for the technology industry.

KPMG audits 84 of the 500 companies in S&P 500. KPMG’s biggest market share is within the Real Estate, Communications, and Energy sector. The biggest clients of KPMG in these sectors are CBRE Group, Omnicom Group, and Baker Hughes. In dollar terms, biggest fees is from Citigroup which pays $97.4 million followed by GE which pays $79.1 million. Big loss for KPMG in 2021 when GE switches to Deloitte. In total, the S&P 500 clients brings in ~$1 billion in fees.

The below chart shows KPMG’s share of major US audit clients spread across the different Industry sectors:

GICS Sector	KPMG # clients	Total Industry (#)	%	KPMG fees ($ M)	Total Industry ($ M)	%
Financials	14	66	21%	287.40	1438.89	20%
Health Care	7	61	11%	92.43	848.32	11%
Information Technology	13	71	18%	114.27	841.72	14%
Industrials	8	69	12%	145.38	876.49	17%
Materials	5	28	18%	40.98	393.82	10%
Consumer Discretionary	8	62	13%	43.01	568.64	8%
Communication Services	5	22	23%	60.59	471.79	13%
Energy	6	26	23%	72.31	297.39	24%
Consumer Staples	7	33	21%	76.48	425.49	18%
Utilities	1	28	4%	10.91	263.4	4%
Real Estate	10	31	32%	50.44	141.17	36%

Tagged : kpmg atlanta / kpmg boston / kpmg clients / kpmg new york

Accounting firms in New York

by enthusiastJuly 1, 2020June 20, 2021Deloitte / EY / KPMG / PwC

Home » kpmg new york

New York has some of the biggest names in the financial industry. Its no surprise that NY has 55 of the S&P 500 companies. That’s a solid 11% in one state. PwC New York office as expected leads over the other big3 both in terms of fees and number of clients. JP Morgan is the biggest client for PwC in terms of fees with a mind boggling $105 million. Probably the biggest fees among all clients [Check out our other posts!]. Deloitte New York office brings in $301 million total audit fees while KPMG New York brings in $278 million.

Auditor	# of companies audited	Total fees ($ million)	%
PwC	22	577.98	44%
KPMG	9	277.58	21%
Deloitte	12	301.13	23%
EY	11	151.31	11%
BDO	1	7.97	1%

BDO makes it to the list for the first time. BDO audits Henry Schein, an health care distribution company. For my enthusiast friends who like to see the details, here you go! Some of the audit fees on this list are the biggest source of revenue for the big4 firm. Source of constant revenue even during a pandemic or recession.

Security	Headquarters Location	Auditor	Total
JPMorgan Chase & Co.	New York, New York	PwC	104.80
Citigroup Inc.	New York, New York	KPMG	97.40
International Business Machines	Armonk, New York	PwC	88.00
Goldman Sachs Group	New York, New York	PwC	84.40
MetLife Inc.	New York, New York	Deloitte	83.20
American International Group	New York, New York	PwC	71.10
Morgan Stanley	New York, New York	Deloitte	56.30
Verizon Communications	New York, New York	EY	50.90
The Bank of New York Mellon	New York, New York	KPMG	46.74
Pfizer Inc.	New York, New York	KPMG	46.53
Interpublic Group	New York, New York	PwC	32.95
American Express Co	New York, New York	PwC	31.59
Bristol-Myers Squibb	New York, New York	Deloitte	29.00
Philip Morris International	New York, New York	PwC	26.84
ViacomCBS	New York, New York	PwC	25.84
PepsiCo Inc.	Purchase, New York	KPMG	25.60
Marsh & McLennan	New York, New York	Deloitte	24.54
BlackRock	New York, New York	Deloitte	24.45
Omnicom Group	New York, New York	KPMG	23.61
News Corp. Class A	New York, New York	EY	22.13
Coty, Inc	New York, New York	Deloitte	21.58
Loews Corp.	New York, New York	Deloitte	20.79
Assurant	New York, New York	PwC	18.49
Howmet Aerospace	New York, New York	PwC	16.50
Colgate-Palmolive	New York, New York	PwC	15.80
Estée Lauder Companies	New York, New York	KPMG	13.13
S&P Global, Inc.	New York, New York	EY	11.53
Hess Corporation	New York, New York	EY	11.14
The Travelers Companies Inc.	New York, New York	KPMG	10.72
Corning Inc.	Corning, New York	PwC	10.31
Fox Corporation (Class A)	New York, New York	EY	10.16
PVH Corp.	New York, New York	EY	10.13
Intl Flavors & Fragrances	New York, New York	PwC	9.86
Nielsen Holdings	New York, New York	EY	9.79
Mastercard Inc.	Harrison, New York	PwC	9.63
Tapestry, Inc.	New York, New York	Deloitte	9.47
Broadridge Financial Solutions	Lake Success, New York	Deloitte	9.36
Ralph Lauren Corporation	New York, New York	EY	8.90
Nasdaq, Inc.	New York, New York	EY	8.54
Henry Schein	Melville, New York	BDO	7.97
Vornado Realty Trust	New York, New York	Deloitte	7.87
Constellation Brands	Victor, New York	KPMG	7.85
Xylem Inc.	White Plains, New York	Deloitte	7.64
E*Trade	New York, New York	Deloitte	6.92
Moody's Corp	New York, New York	KPMG	6.00
Consolidated Edison	New York, New York	PwC	5.97
Tiffany & Co.	New York, New York	PwC	5.83
M&T Bank Corp.	Buffalo, New York	PwC	5.65
MSCI Inc	New York, New York	PwC	5.43
Take-Two Interactive	New York, New York	EY	4.72
SL Green Realty	New York, New York	EY	3.38
Kimco Realty	New Hyde Park, New York	PwC	2.38
MarketAxess	New York, New York	PwC	2.26
Regeneron Pharmaceuticals	Tarrytown, New York	PwC	2.26
Paychex Inc.	Penfield, New York	PwC	2.08

Look into our other blog posts for the overall 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.

Tagged : big4 ny clients / deloitte clients / deloitte new york / ey clients / ey new york / kpmg clients / kpmg new york / pwc clients / pwc new york