PWC HAS OUSTED KPMG to take the top spot as auditor of choice for small-cap/fledgling clients.
According to the latest Morningstar report, which looks at auditor clients, PwC has 92 clients compared with KPMG’s 82 for the third quarter. The previous quarter saw PwC and KPMG hold joint first place, both with 92 clients.
Deloitte held onto its fourth place, behind Ernst & Young, despite losing 12 clients. It is now left with a total of 53, while Grant Thornton had 37 clients, now 36, and holds onto its fifth position.
The ranking has collectively 25 less clients than the previous quarter. Out of the top 15 auditors, there were 390 AIM clients in Q2 compared to 365 in Q3.
Leading the way in terms of the number of AIM clients is Grant Thornton with 165, although this is down on the previous quarter of 172. It is followed by BDO with 130 clients, two less than the previous quarter. It shares the second spot with KPMG which has 130 clients also losing six, while PwC has gained five clients to take fourth place. Deloitte increased its AIM clients by four, taking its total to 102 and fifth place.
Further down the table, the rest of the firms largely stayed in the same position. However, Mazars moved up one place to 12th, sharing that spot with Jeffreys Henry, which was 12th last quarter, and RSM Tenon, which was previously 14th. All three firms audit 16 AIM clients.
PwC still leads the way as auditor of the FTSE 100 with 42 clients, up from 41 in the previous quarter. It is followed by KPMG with 24 clients, Deloitte with 20, Ernst & Young with 16, and BDO with one.
Grant Thornton fell one place to ninth in the table of financial advisors to AIM clients by number of clients, despite increasing its numbers to 38 from 37.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'