This analysis was originally posted by Audit Analytics.
Audit Analytics has recorded 217 auditor departures in 2019 by companies listed on the London Stock Exchange (LSE), including the Alternative Investment Market (AIM). BDO, once again, led the way netting 29 new audit clients of LSE- listed companies.
Ernst & Young and RSM UK also saw more engagements than departures, netting 16 and 12 new audit clients, respectively.
Overall, there were 218 engagements and 217 departures in 2019 among LSE- listed companies across the Big Four and major global and national firms.
The table below presents a comprehensive view of the gains and losses of the Big Four and global and national firms among the LSE (including AIM) during 2019, showing the number of audit clients each firm gained or lost, as well as the auditor from or to which the client was won or lost.
As shown in the matrix above, there were some major changes for a few of the global firms. RSM and Mazars gained a net total of 12 and 6 audit clients, respectively; a significant change from last year, when RSM lost one client and Mazars broke even. PKF and Crowe also trended upwards in 2019, adding 12 and 7 net audit clients, respectively.
Only six of these firms saw positive net engagements: BDO, EY, RSM, PKF, Crowe, and Mazars.
EY led the Big Four audit firms in total engagements, gaining 30 new clients in 2019. On the other end, KPMG saw 61 departures with only 12 new client engagements.
This analysis uses data from the Europe Auditor Changes database, powered by Audit Analytics.
For more information about Audit Analytics or this analysis, please contact us.
Interested in our content? Be sure to subscribe to receive our email notifications.