Ernst & Young audited more accelerated filers and issued fewer adverse opinions last year than any other Big 4 firm, according to a recent analysis of internal control filings with the Securities and Exchange Commission. At the opposite end of the spectrum, KPMG audited the second-lowest number of accelerated filers, yet showed the highest rate of adverse opinions.
The data, prepared by research firm Audit Analytics, paints a large picture of slowly improving audit opinions—echoing the findings of several other studies of corporate filings this spring, including one done by Compliance Week. But just as interesting to corporate executives, Audit Analytics’ research details which firms are prone to issue the toughest grades to their audit clients.
