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BDO finished an impressive fourth in Accounting News Report's (ANR) second quarter auditor change rankings for the second consecutive quarter, outpacing Deloitte, Ernst & Young and all other non-big four national firms.
BDO USA’s ranking was based on a well-rounded second quarter performance. The firm experienced a net gain of four audit engagements (13 wins versus nine losses) – third best of all firms. In addition, BDO finished fourth in both gains of market cap audited ($318,468,259) and revenue audited ($525,462,379).
“BDO USA had the best success, among non-big four national firms, in landing departing big four SEC engagements in Q2, picking up six,” according to ANR’s weekly analysis of trends, practices and firms in the accounting profession. The firm also had a net gain of two engagements among Accelerated Filers, finishing second to KPMG in the category.
Non-big four national firms also experienced success in adding departing audit engagements from regional and local firms. BDO achieved a net gain of three clients from regional and local firms and had a net gain of four in the Smaller Reporting Company category.
ANR's auditor change analysis is based on quarterly SEC auditor change data compiled by AuditAnalytics.com. Firms are ranked in five categories – net client engagement wins, net revenue audited, net assets audited, net market cap audited and net gain in audit fees. KPMG led all firms by finishing second in each of these five categories.