{"id":1247,"date":"2020-09-24T19:40:47","date_gmt":"2020-09-24T17:40:47","guid":{"rendered":"https:\/\/eaa-online.org\/arc\/blog\/blog\/who-audits-public-companies-market-share-france\/"},"modified":"2020-09-24T19:40:47","modified_gmt":"2020-09-24T17:40:47","slug":"who-audits-public-companies-market-share-france","status":"publish","type":"post","link":"https:\/\/eaa-online.org\/arc\/blog\/2020\/09\/24\/who-audits-public-companies-market-share-france\/","title":{"rendered":"Who Audits Public Companies \u2013 Market Share in France"},"content":{"rendered":"<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">This analysis was originally posted by <a href=\"https:\/\/www.auditanalytics.com\">Audit Analytics<\/a>.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">Deloitte, EY, KPMG, and PwC collectively hold just 57% of the overall market share among the top indexes in France. This is a vastly different picture than we saw when looking at&nbsp;<a href=\"https:\/\/blog.auditanalytics.com\/who-audits-public-companies-germany\/\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">Germany<\/a>, where the Big Four holds 91% of the market share. The difference, however, can be attributed to France&rsquo;s joint audit system.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">As mentioned in a previous post, we&rsquo;ll take a look at the auditor market concentration across select European countries. For this analysis, we looked at the top three French indexes trading on Euronext as of the end of 2019:<\/p>\n<ul style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em 2.5em; outline: 0px; padding-right: 0px; padding-left: 0px; vertical-align: baseline; list-style: square; color: rgb(55, 55, 55);\">\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\t<a href=\"https:\/\/live.euronext.com\/en\/product\/indices\/FR0003500008-XPAR\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">CAC 40<\/a>&nbsp;&ndash; Top 40 French companies with a market cap of &euro;1.6 trillion;<\/li>\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\t<a href=\"https:\/\/live.euronext.com\/en\/product\/indices\/QS0010989117-XPAR\/market-information\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">CAC Mid 60<\/a>&nbsp;&ndash; Next 60 companies totaling &euro;224 billion in market cap; and<\/li>\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\t<a href=\"https:\/\/live.euronext.com\/en\/product\/indices\/QS0010989125-XPAR\/quotes\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">CAC Small<\/a>&nbsp;&ndash; The following 178 companies after the large and mid-cap indexes.<\/li>\n<\/ul>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">France is unique among the sizable economies in the EU because it requires a&nbsp;<a href=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2020\/09\/https__www.ifac_.org_system_files_publications_files_IFAC-Joint-Audit-The-Bottom-Line.pdf\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">joint audit<\/a>&nbsp;for all companies who file consolidated financial statements. While there has been no conclusive evidence about improved audit quality as a result of the joint audit approach, it is clear that in France, more accounting firms audit the top companies than in other European markets.<\/p>\n<div class=\"wp-block-image\" style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">\n<figure class=\"aligncenter size-full is-resized\" style=\"display: table; clear: both; margin-left: auto; margin-right: auto;\">\n\t\t<a href=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2020\/09\/https__blog.auditanalytics.com_wp-content_uploads_2020_09_Who-Audits-France-2.png\" rel=\"noopener noreferrer\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\"><img decoding=\"async\" class=\" size-full wp-image-1244\" alt=\"\" class=\"wp-image-33720\" height=\"756\" loading=\"lazy\" sizes=\"(max-width: 585px) 100vw, 585px\" src=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2020\/09\/https__blog.auditanalytics.com_wp-content_uploads_2020_09_Who-Audits-France-2.png\" srcset=\"https:\/\/blog.auditanalytics.com\/wp-content\/uploads\/2020\/09\/Who-Audits-France-2.png 1545w, https:\/\/blog.auditanalytics.com\/wp-content\/uploads\/2020\/09\/Who-Audits-France-2-232x300.png 232w, https:\/\/blog.auditanalytics.com\/wp-content\/uploads\/2020\/09\/Who-Audits-France-2-791x1024.png 791w, https:\/\/blog.auditanalytics.com\/wp-content\/uploads\/2020\/09\/Who-Audits-France-2-768x994.png 768w, https:\/\/blog.auditanalytics.com\/wp-content\/uploads\/2020\/09\/Who-Audits-France-2-1187x1536.png 1187w\" style=\"border: none; max-width: 100%; height: auto; padding: 6px;\" width=\"585\" \/><\/a><\/figure>\n<\/div>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\"><strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">CAC 40<\/strong><\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">The CAC 40 is audited by six firms, with the Big Four holding 83% of the market share.&nbsp;EY has 23 clients, PwC has 18, and Deloitte has 14. Next is Mazars, with 11 clients, followed by KPMG auditing 10, and Grant Thornton with 2 audit clients.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\"><strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">CAC MID 60<\/strong><\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">The market share distribution remains in the same order for the top six auditors on the CAC 60, accounting for 91% of the index.&nbsp;Nexia International has 3% and is represented by ACA Auditeurs &amp; Conseils Associ&eacute;s and Novances &ndash; David et Associ&eacute;s who audit two and one company, respectively.&nbsp;Cailliau Dedouit Et Associes audits two companies. Seven other firms audit the remainder of the index, each with one client.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\"><strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">CAC SMALL<\/strong><\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">As for the 178 companies on the CAC Small, we see a large number of audit firms competing for market share. Although, together, the Big Four, Mazars, and GT control 63% of this index. The next 20 firms hold 17% of the market, while the remaining 20% is shared among 69 audit firms.&nbsp;For the complete list of firms auditing the CAC Small, please&nbsp;<a href=\"https:\/\/www.auditanalytics.com\/contact?utm_source=website&amp;utm_medium=blog&amp;utm_campaign=2020.09.24\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">contact us<\/a>.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\"><strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">Joint Audit Market Composition<\/strong><\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">Digging deeper into how joint audits are composed sheds a little more light onto the concentration of the audit market in France. The Big Four teams up with non-Big Four firms in most joint audit arrangements on these indexes. The next most common make-up is two Big Four firms working together, and finally, two non-Big Four firms. It is clear that in France, mid-size firms have more opportunities to work on the audits of the largest companies.<\/p>\n<div class=\"wp-block-image\" style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">\n<figure class=\"aligncenter size-full is-resized\" style=\"display: table; clear: both; margin-left: auto; margin-right: auto;\">\n\t\t<img decoding=\"async\" class=\" size-full wp-image-1246\" alt=\"\" class=\"wp-image-33770\" height=\"141\" loading=\"lazy\" src=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2020\/09\/https__blog.auditanalytics.com_wp-content_uploads_2020_09_Joint-Audit-Composition-France-1.png\" style=\"max-width: 100%; height: auto; border: none; padding: 6px;\" width=\"530\" \/><\/figure>\n<\/div>\n<hr class=\"wp-block-separator\" style=\"background-color: rgb(204, 204, 204); border: 0px; height: 1px; margin-bottom: 1.625em; margin-left: auto; margin-right: auto; max-width: 100px; color: rgb(55, 55, 55); font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px;\" \/>\n<h2 style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 0.8125em; outline: 0px; padding: 0px; vertical-align: baseline; clear: both; color: rgb(0, 0, 0);\">\n\t<strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 82, 149);\">Auditor Changes<\/span><\/strong><\/h2>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">Looking at the future for these indexes, it is important to note that there are a number of upcoming auditor changes that will slightly alter the landscape in 2020.&nbsp;On the CAC 40, Capgemini has dismissed KPMG and engaged Mazars.&nbsp;This will shift the Big Four market share on the top index to just under 80% and bump Mazars to 17%.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">On the CAC Mid 60, we have recorded six known auditor changes:<\/p>\n<ul style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em 2.5em; outline: 0px; padding-right: 0px; padding-left: 0px; vertical-align: baseline; list-style: square; color: rgb(55, 55, 55);\">\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\tKPMG will lose two clients and gain two clients;<\/li>\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\tPwC will lose one and gain two;<\/li>\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\tMazars will lose one and gain one; and<\/li>\n<li style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">\n\t\tBecouze &amp; Associ&eacute;s will lose one.<\/li>\n<\/ul>\n<h2 style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 0.8125em; outline: 0px; padding: 0px; vertical-align: baseline; clear: both; color: rgb(0, 0, 0);\">\n\t<strong style=\"border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 82, 149);\">France&rsquo;s Implementation of EU Audit Reform<\/span><\/strong><\/h2>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">France implemented EU Audit Reform for Public Interest Entities (PIEs) following&nbsp;<a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=celex%3A32014L0056\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">Directive 2014\/56\/EU<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32014R0537\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">Regulation (EU) 537\/2014<\/a>&nbsp;of the European Parliament which took effect in June 2016.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">As in much of the EU, France restricts the maximum initial audit firm tenure to ten years. France took advantage of the permitted allowance to add further&nbsp;<a href=\"https:\/\/www.legifrance.gouv.fr\/codes\/id\/LEGISCTA000006161409\/2016-06-26\/\" rel=\"noreferrer noopener\" style=\"border: 0px; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\">requirements&nbsp;<\/a>relating to auditor rotation, adding a&nbsp;minimum initial engagement of 6 years. Companies may extend and additional 14 years if there is a joint audit and 6 years if there is no joint audit.&nbsp; Further, there is a four- year cooling-off period during which a firm cannot be re-appointed.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">France adopted most of the EU regulations as defined, with the minor exception that the Audit Committee must approve non-audit services that are not on the list of prohibited non-audit services. France also included a further provision to allow auditors to request an extension of the non-audit services cap timeline.&nbsp;More notably, France is unique in that they implemented a form of &ldquo;Key Audit Matter&rdquo; disclosure called Justification of Assessments in 2003, long before the rest of the EU in 2016.<\/p>\n<hr class=\"wp-block-separator\" style=\"background-color: rgb(204, 204, 204); border: 0px; height: 1px; margin-bottom: 1.625em; margin-left: auto; margin-right: auto; max-width: 100px; color: rgb(55, 55, 55); font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px;\" \/>\n<p class=\"has-text-align-center\" style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; text-align: center; color: rgb(55, 55, 55);\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 82, 149);\">For more information about Audit Analytics or this analysis, please<\/span><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 113, 161);\">&nbsp;<\/span><a href=\"https:\/\/www.auditanalytics.com\/contact?utm_source=website&amp;utm_medium=blog&amp;utm_campaign=2020.09.24\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(255, 145, 55);\">contact us<\/span><\/a><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 113, 161);\">.<\/span><\/p>\n<p class=\"has-text-align-center has-small-font-size\" style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 13px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; text-align: center; color: rgb(55, 55, 55);\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(255, 145, 55);\">Interested in our content? Be sure to&nbsp;<\/span><a href=\"https:\/\/www.auditanalytics.com\/contact?utm_source=website&amp;utm_medium=blog&amp;utm_campaign=2020.09.24#newsletter\" rel=\"noreferrer noopener\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\" target=\"_blank\"><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 82, 149);\">subscribe<\/span><\/a><span class=\"has-inline-color\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(255, 145, 55);\">&nbsp;to receive our email notifications.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This analysis was originally posted by Audit Analytics. Deloitte, EY, KPMG, and PwC collectively hold just 57% of the overall market share among the top indexes in France. This is a vastly different picture than we saw when looking at&nbsp;Germany, where the Big Four holds 91% of the market share. The difference, however, can be [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":1248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[],"tags":[2],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who Audits Public Companies \u2013 Market Share in France - ARC<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who Audits Public Companies \u2013 Market Share in France - ARC\" \/>\n<meta property=\"og:description\" content=\"This analysis was originally posted by Audit Analytics. Deloitte, EY, KPMG, and PwC collectively hold just 57% of the overall market share among the top indexes in France. This is a vastly different picture than we saw when looking at&nbsp;Germany, where the Big Four holds 91% of the market share. The difference, however, can be [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eaa-online.org\/arc\/blog\/2020\/09\/24\/who-audits-public-companies-market-share-france\/\" \/>\n<meta property=\"og:site_name\" content=\"ARC\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-24T17:40:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2020\/09\/market_share_in_france.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"335\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jessica McKeon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jessica McKeon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/eaa-online.org\/arc\/blog\/2020\/09\/24\/who-audits-public-companies-market-share-france\/\",\"url\":\"https:\/\/eaa-online.org\/arc\/blog\/2020\/09\/24\/who-audits-public-companies-market-share-france\/\",\"name\":\"Who Audits Public Companies \u2013 Market Share in France - ARC\",\"isPartOf\":{\"@id\":\"https:\/\/eaa-online.org\/arc\/#website\"},\"datePublished\":\"2020-09-24T17:40:47+00:00\",\"dateModified\":\"2020-09-24T17:40:47+00:00\",\"author\":{\"@id\":\"https:\/\/eaa-online.org\/arc\/#\/schema\/person\/f61376a765d3f4be1057fe22deda2b4f\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/eaa-online.org\/arc\/blog\/2020\/09\/24\/who-audits-public-companies-market-share-france\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/eaa-online.org\/arc\/#website\",\"url\":\"https:\/\/eaa-online.org\/arc\/\",\"name\":\"ARC\",\"description\":\"Advanced Resources Center\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/eaa-online.org\/arc\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/eaa-online.org\/arc\/#\/schema\/person\/f61376a765d3f4be1057fe22deda2b4f\",\"name\":\"Jessica McKeon\",\"url\":\"https:\/\/eaa-online.org\/arc\/blog\/members\/93\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Who Audits Public Companies \u2013 Market Share in France - ARC","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Who Audits Public Companies \u2013 Market Share in France - ARC","og_description":"This analysis was originally posted by Audit Analytics. 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