Please ensure Javascript is enabled for purposes of website accessibility

Number of the Day: 5,447

No, that’s not the combined number of sit-ups and push-ups PwC Chairman Tim Ryan does in a week. It’s the number of SEC-registered clients across the mutual fund spectrum that are audited by PwC, according to a recent Audit Analytics analysis.

And as Audit Analytics noted, PwC has a stranglehold on mutual fund engagements, with 41.1% of all fund and series audits.

According to Audit Analytics:

Much of this can be attributed to the engagement of many of the largest investment management companies; PwC is the auditor of over 400 BlackRock, 300 Fidelity, and 200 Vanguard funds and series.

P. Dubs is followed by its Big 4 brethren—EY (16.9%), Deloitte (15.7%), and KPMG (11.6%).

Here’s a chart from Audit Analytics that breaks down mutual fund market share by audit firm:

Who Audits Mutual Funds – An Overview [Audit Analytics]
PwC dominates mutual fund audits [Accounting Today]

Related article:

Tim Ryan Crunches More Than Just Numbers

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

PwC Australia is Very Very Sorry, You Guys

Presumably because the many apologies and decisions made before this letter have not sufficiently gotten the heat off their backs (and boy is it hot), PwC Australia published an open letter apology on their website Monday. The entire text, including the formatting, appears in below. At issue, if you make your residence under a rock, […]

sketch of a robot among business people to signify AI replacing workers

PwC Chief Products & Technology Officer Says Not to Worry, They Don’t Want to Replace You With AI

A couple days ago, NYT published a piece asking an important question: Who will protect the workers losing their jobs to AI? The article references a May 16 senate subcommittee hearing chaired by Senator Richard Blumenthal at which OpenAI’s Sam Altman is told Mr. Blumenthal’s greatest nightmare is AI causing massive job loss. “There will […]