Audit

PwC in control of mutual fund audits market

The firm reportedly holds a similar market share to the remaining big four accounting groups combined

PwC dominates the market share for all types of mutual fund audits, according to analysis conducted by Audit Analytics.

The research shows that PwC sits well ahead of its competitors with its audits comprising over 41% of all mutual funds registered with the SEC.

The figure almost matches the combined 44.2% market share of Ernst and Young, Deloitte, and KPMG.

Breaking the results down further reveals that PwC controls half of the market share for ETFs, with its nearest competitor sitting at 21%.

Elsewhere, the big four accounting group controls over 40% of both the money market funds and open-ended funds markets.

The group’s closest competition lies in closed-ended funds, where it edged its nearest competitor’s market share by 1%.

The analysis follows news that Julie Goosman has been appointed as global insurance services leader for tax and legal at PwC.

Speaking on the appointment, John Garvey, Global Financial Services Leader at PwC, said: “As our clients continue to seek advice on navigating increasingly complex insurance transactions, Julie’s skills, experience and knowledge of the industry will further strengthen our global practice and enhance our service offerings around the world.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button