For the second quarter in a row, Top 25 Firm Marcum far outpaced its peers in terms of new Securities and Exchange Commission clients added.
And once again, its merger last September with Top 100 Friedman accounted for most of those gains: Marcum added 53 new clients in the fourth quarter of 2022, and 43 of those came from Friedman. It netted 42, which was still six times more than its nearest competitor (see "
In Q3 Marcum had added 34 clients — with 25 coming from from Friedman — and netted 19.
In both Q3 and Q4, Marcum's gains elevated the overall quarter from something typical of the slow pace of engagements typical of the pandemic to something more in line with the numbers posted before 2020.
Clients by filing status, and more
Marcum added 48 non-accelerated filers and smaller reporting companies, dominating the league table for new engagements by that filing status. There were relatively few new accelerated filers and smaller reporting companies, with no firm clearly dominating the lists. (See "
Marcum's large number of new engagements put it at the top of the league tables for new market capitalization audited and new audit fees.
Deloitte came in second in new market cap, thanks to $1.2 billion each from bowling center operator Bowlero Corp. and Internet-of-Things tech company Digi International, and Mazars took second in new audit fees, almost entirely due to the $5.3 million from electric vehicle developer Faraday Future Intelligent Electric. (See "
Meanwhile, Singapore-based Assentsure took first place in new assets audited, with China-based residential real estate developer Xinyuan Real Estate Co.'s $6.4 billion accounting for almost all of it.
RSM US came in second, thanks largely to North Dakota-based chain of financial institutions Alerus Financial Corp.'s $3.4 billion.
Data for the quarterly rankings are provided by Audit Analytics, a premium online intelligence service delivering audit, regulatory and disclosure analysis. Reach them at (508) 476-7007,
