The firm that puts the EY in cringEworthY training seminars for women audited the most initial public offerings in the third quarter, according to a new analysis from Audit Analytics.
#Auditor Market Share for 53 #IPO companies in Q3 2019:
All Others: [32.1%]
— Audit Analytics (@AuditAnalytics) October 10, 2019
EY was the auditor of the second-highest IPO of the third quarter in terms of proceeds, which was Peloton at $1.16 billion raised. SmileDirectClub led the way by raising $1.35 billion, but Audit Analytics said it wasn’t able to determine SDC’s auditor. However, a Q3 IPO analysis from Renaissance Capital states that SDC was audited by EY.
Renaissance Capital also said EY was the auditor for the failed WeWork IPO, which was pulled in September because investors said it would flop. And since then, WeWork has gone to shit. How’s your community-adjusted Ebitda looking now?
The Big 4 audited 54.7% of the IPO market in the third quarter, according to Audit Analytics.
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