Marcum Leads in SEC Audit Clients, IPO Market Share for First Half of 2016

The SEC practice of New York-based Marcum (FY15 net revenue of $412.4 million) ended the first half of the year with the most net new SEC clients of any U.S. accounting firm and also led the profession in IPO audit market share among non-Big 4 firms.

According to Audit Analytics, Marcum had a net gain of 11 SEC clients from January through June, outperforming all other accounting firms. The growth was nearly double the next nearest net gainer. Marcum was also the top-ranked IPO auditor after Big 4 firms for the same time period, with a 17% market share of transactions audited by middle-market firms.

David Bukzin, PIC of Marcum’s SEC group says, “While the environment for IPOs remains significantly less robust so far in 2016 as compared to last year, we did see a pickup in the second quarter. If this trend continues, more companies will be looking for services as they ramp up to going public.”

He adds, “The IPO process is not to be taken lightly; companies will have whole new constituencies for which they will need to perform, including shareholders, regulators and the market itself. Preparation requires that they start behaving like public companies a full year or more before they pull the trigger. I always tell clients that when you go public, you go from having one business to having two businesses – the business that got you to become public and the business of being public. You have to consider the two as equals in order to have public company success.”