A SHIFT-AROUND at the top end of the AIM audit market has seen KPMG take over from PwC as the auditor with the most clients.
KPMG now has 25 AIM 100 audit clients, a net gain of three, while PwC has slipped to second place with 24 clients, from 25, according to the latest AIM Adviser Rankings Guide.
However, BDO retains its position of the most number of AIM clients, with 163, a net gain of two. PwC retains the top ranking by client market cap, with £18.3bn. KPMG’s AIM audit clients are worth £16bn by market cap.
Smith & Williamson entered the rankings for both AIM 100 (two clients) and AIM UK 50 (one client). The firm has 25 AIM audit clients in total.
The UK’s imminent exit from the EU that may now put the audit committee to the ultimate test
Audit tendering has turned from good practice to legal practice under the EU audit reforms
Businesses will have to think more strategically about where they can source those non-audit services in the future
The FRC has raised concerns that the FTSE 350 audit market remains highly concentrated among the Big Four despite high levels of tendering and rotation