Big4 Auditor Changes week ending 03/31/13

Now that most calendar year end companies have their 10-Ks on file, they can turn their attention to other topics…like changing auditors.  For the second week in a row, KPMG picked up three new clients, while at the same time losing two.  Both this week and last, KPMG took clients from 2nd tier firms. I wonder if it’s due to KPMG aggressively lowering fees to match the smaller firms on price, or perhaps instead an indication that KPMG is becoming more of a second tier firm itself.

Once again, Deloitte had the worst week, losing three clients while gaining just one.

PwC lost longtime client Micrel, but picked up salted-snack maker Diamond Foods from Deloitte (see my post from earlier this week for commentary on that).

Here’s the complete listing of companies changing Big4 auditors this week:

Filing Date Company Location Old Auditor New Auditor Dismissal / Resignation
3/25/2013 Chinacast Education Corporation China Deloitte & Touche LLP Dismissal
3/26/2013 Micrel, Incorporated CA Pricewaterhouse Coopers LLP KPMG LLP Dismissal
3/26/2013 STR Holdings, Inc. CT Pricewaterhouse Coopers LLP UHY LLP Dismissal
3/26/2013 Microstrategy Incorporated VA Grant Thornton LLP KPMG LLP Dismissal
3/27/2013 Summit Hotel Properties, Inc. TX KPMG LLP Ernst & Young LLP Dismissal
3/28/2013 TriMas Corporation MI KPMG LLP Deloitte & Touche LLP Dismissal
3/28/2013 Diamond Foods, Inc. CA Deloitte & Touche LLP Pricewaterhouse Coopers LLP Dismissal
3/28/2013 Akorn, Inc. IL Ernst & Young LLP KPMG LLP Dismissal
3/29/2013 Rhino Resources Partners LP KY Deloitte & Touche LLP Ernst & Young LLP Dismissal

As we head into the second quarter, it will be interesting to see what additional changes there will be.  Only one way to find out. Tune in again next week to the Big4 Auditor Carousel.

Round and round and round…

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