KPMG grabs largest number of FTSE 100 audits

KPMG has grabbed the top slot for auditing FTSE 100 companies, with the largest number of clients, overtaking PwC which held this position in the rankings since they were first published in 2005

According to the quarterly report produced by Adviser Rankings in association with Crowe UK, KPMG’s move to outright leader with a total of 28 clients is the result of John Wood Group being promoted to the FTSE 100 in October. 

PwC remains auditor for 27 clients, while Deloitte is third with 26, having lost Sky as a client, and EY has 17. BDO and Grant Thornton have one FTSE 100 audit client each. 

This increase fits with KPMG's increasing presence in the FTSE 100. However, in terms of revenue, PwC still dominates. In Accountancy's 2018 FTSE 100 Auditor's Survey, PwC led the field both in terms of value and number of audits, auditing 34 companies and earning £257m in audit fees. This was a 13% decrease compared to the previous year (£296m). However, KPMG had 24 clients but its earnings rose 39% from £113m in 2017 to £157m.

Year of survey2017 £m2018 £m

However, PwC still has a comfortable overall lead by total client market capitalisation and has closed KPMG’s overall lead by total number of clients to just 10. While KPMG now has 370 stock market clients, PwC audits 360, well ahead of the next rival, Deloitte, with 259. The firm also extended its FTSE 250 lead, with 74 clients to KPMG’s 63.

BDO continues to have the most Aim clients (149), while EY added the most new clients overall during the sector, up from 225 to 235.

Report by Pat Sweet

Be the first to vote