Stats › Listings, IPOs and corporate actions › Big four share
The four largest audit firms hold 59 per cent of Europe's public interest audits by number and 86 per cent by fee revenue
| Measure | 2015 or 2018 | 2021 |
|---|---|---|
| Four largest firms, share of public interest audits by number | almost 70 per cent in 2015, 70 per cent in 2018 | 59 per cent |
| Four largest firms, share of public interest audit revenue | around 80 per cent in 2015, 92 per cent in 2018 | 86 per cent |
| Four firm concentration ratio, average across member states | not published for 2015 | 70 per cent |
| Ten key audit players, combined share | not published for 2015 | 81 per cent |
| Turnover of firms auditing public interest entities | total audit fees about 11 billion euro in 2015 | about 30 billion euro |
| Share of listed company audits | close to 70 per cent in 2015 | not published in the same form |
European Commission reports under Article 27 of the audit regulation: the 2017 report on 2015 data covering twenty eight member states, and the 2024 report on 2021 data covering twenty five member states plus Norway and excluding the United Kingdom. The populations differ, so the fall is not a clean like for like comparison and is not presented as one.
Their share by number fell from about 70 per cent in 2018 to 59 per cent in 2021, and by revenue from 92 to 86 per cent. The gap between the two measures is the whole finding: they keep the large clients.
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