Big4 Auditor Changes week ending 06/30/13

It’s beginning to sound like a broken record; another terrible week for Ernst & Young.  Four clients lost this week, making it ten total for the month of June.  Granted, none of these clients are Fortune 500, but come on, what’s going on at EY?  Maybe they’re doing one of  those client purges firms do every so often.  Or, maybe they want to focus more on other revenue streams.  Queue the music for EY’s 2020 Vision.  Uncle Ernie has a plan to get to $50 billion in revenue by 2020, and a big part of that involves increased consulting advisory services. Great article on the brave new EY by Caleb Newquist over on Goingconcern.com (see article here).

One more observation.  Though it’s a small sample size, these companies are headed to the Grant Thorntons and McGladreys of the world.  Good time to be second tier!

Here’s the full list:

Filing Date Company Location Old Auditor New Auditor Dismissal / Resignation
6/24/2013 NVE Corporation MN Ernst & Young LLP Grant Thornton LLP Dismissal
6/24/2013 Cyclacel Pharmaceuticals, Inc. NJ Ernst & Young LLP McGladrey LLP Dismissal
6/26/2013 SciQuest, Inc. NC Ernst & Young LLP Grant Thornton LLP Dismissal
6/28/2013 Central European Distribution Corporation NJ Ernst & Young LLP Pricewaterhouse Coopers LLP Dismissal

I’ll be posting the Q2 summary of auditor changes in the next few days. Until then, take a look at our twitter feed for all the latest information.

Round and round and round…

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One Response to Big4 Auditor Changes week ending 06/30/13

  1. Pingback: Big4 Auditor Changes week ending 07/07/13 | Big4 Auditor Carousel

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