KPMG UK breaks through the 400 quoted audit client barrier
KPMG UK has consolidated its position as the auditor of the most listed companies in the UK, according to financial information group Hemscott.
Its second-quarter rankings guide, which covers the three months to 7 August 2007, shows that KPMG added 22 quoted company audit clients during the period to bring its total to 416.
By comparison, PricewaterhouseCoopers UK (PwC) added seven for a total of 391; Deloitte UK added 21 for a total of 346; and Ernst & Young UK (E&Y) added 18 for a total of 344. Grant Thornton UK headed up the mid-tier – its merger with RSM Robson Rhodes boosting its total number of listed company audit clients by 86 to 288.
PwC audited almost twice as many FTSE 100 clients than any other firm, picking up one new client for a total of 40. Deloitte picked up two clients for a total of 21 to leave it level pegging with KPMG, which lost two clients in this market. E&Y remained steady with 19 FTSE 100 clients.
PwC also dominated the audits of FTSE 250 clients, despite dropping four clients for a total of 72. Deloitte came in second, picking up four clients for a total of 67. KPMG remained steady on 57; E&Y dropped one for a total of 44; BDO Stoy Hayward remained steady on six.
Grant Thornton strengthened its lead in terms of auditing Alternative Investment Market-listed (AIM) companies, picking up 43 for a total of 213. It was on the AIM that KPMG recorded the majority of its growth, picking up 18 new clients for a total of 187. The firm told IAB the implementation of IFRS for AIM companies was a big impetus behind this growth.
BDO picked up two new AIM clients for a total of 141; Deloitte added 11 for a total of 128; and PwC added eight for 122.