Big4 Auditor Changes week ending 09/15/13

This week EY resigned as auditor of a couple clients.  MRV communications put their audit out for bid, and submitted an RFP to several firms, including incumbent EY.  A few days later, EY submitted their resignation. Maybe they did some quick math and figured that lower fees didn’t match up with the risk.

Deloitte picked up two new clients, taking both from Grant Thornton.  LendingClub has seen tremendous growth, and the switch could be a sign that they want the added value (assuming there is any) associated with a Big4 auditor.

Filing Date Company Location Old Auditor New Auditor Dismissal / Resignation
9/9/2013 Codexis, Inc. CA Ernst & Young LLP Resignation
9/9/2013 Century Casinos, Inc. CO Grant Thornton LLP Deloitte & Touche LLP Dismissal
9/10/2013 MRV Communications, Inc. NY Ernst & Young LLP Resignation
9/11/2013 LendingClub Corporation CA Grant Thornton LLP Deloitte & Touche LLP Dismissal

It looks like PwC and KPMG both sat out this week. Maybe next week they’ll be back on the carousel. You’ll just have to come back and find out. See you again soon.

Round and round and round…

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