Top Big Four accounting firms in the 1Q24 IPO market

TLDR:

Key Points:

• 30 IPOs in 1Q24 raised $7.8 billion, triple the proceeds from the previous year.
• The Big Four accounting firms audited 15 IPOs, representing 50% of deal count and 97% of proceeds.

The IPO market in the first quarter of 2024 saw significant growth, with 30 IPOs raising a combined $7.8 billion compared to the previous year. The Big Four accounting firms played a significant role in this market, auditing 15 IPOs which accounted for 50% of the total deal count and 97% of the proceeds generated in the quarter.

With the requirement for audited financials for every offering, there were 30 auditing engagements with 15 accounting firms, or 36 with 17 accounting firms including SPACs. This highlights the crucial role that accounting firms play in the IPO market and the trust placed in the Big Four firms to audit major deals.

Overall, the data from the 1Q24 IPO market suggests a continued recovery and growth in the IPO sector, with larger offerings leading the way in driving up total proceeds. The performance of the Big Four accounting firms in auditing major IPOs demonstrates their importance in maintaining confidence and transparency in the market.