cincodias.elpais.com
Ibex 35 Audit Market Share: KPMG and EY Lead in 2025
In 2025, KPMG and EY will each audit 11 Ibex 35 companies, while PwC will audit 9 and Deloitte 4; however, PwC's contract with Banco Santander (over \$130 million) makes it likely to have the highest revenue. These changes reflect ongoing competition and strategic shifts among the Big Four.
- What is the distribution of Ibex 35 audits among the Big Four accounting firms in 2025, and what are the immediate financial implications?
- In 2025, KPMG and EY will jointly lead Ibex 35 audits, each handling 11 companies, representing 62.86% of the market. PwC, while auditing fewer companies, will likely generate the most revenue due to its contract with Banco Santander, exceeding \$130 million.
- How have the market shares of the Big Four auditing firms changed in the Ibex 35 from 2024 to 2025, and what factors account for these changes?
- The Ibex 35 audit landscape shows consolidation among the Big Four firms. KPMG's market share decreased slightly to 31.43% despite retaining the same clients as in 2024, due to EY's growth. PwC maintains a significant share (25.71%) anchored by major bank contracts.
- What are the long-term implications of the observed trends in the Ibex 35 audit market, considering the strategic shifts and financial incentives involved?
- Deloitte's reduced Ibex 35 audit involvement reflects a strategic shift towards consulting services. The high cost of Banco Santander's audit (\$132.9 million) highlights the lucrative nature of these contracts and the intense competition among Big Four firms. Future audit market share will likely depend on securing and retaining large corporate clients.
Cognitive Concepts
Framing Bias
The article frames the story around the market share and financial success of the Big Four auditing firms, particularly highlighting KPMG and EY's near-monopoly. This framing emphasizes the financial aspects over potential concerns about market dominance and concentration, influencing the reader to focus on the business success rather than potential risks.
Language Bias
The language used is generally neutral and objective, using factual descriptions and figures to present the information. There's no use of loaded language or emotionally charged terms to sway the reader's opinion.
Bias by Omission
The article focuses primarily on the market share and financial aspects of the Big Four auditing firms' involvement with Ibex 35 companies. It omits discussion of the quality of audits performed, potential conflicts of interest, and the broader implications of market concentration in the auditing industry. While acknowledging space constraints is reasonable, omitting these crucial aspects limits a comprehensive understanding of the situation.
False Dichotomy
The article presents a somewhat simplified view by focusing heavily on the Big Four firms and implicitly framing them as the only significant players in Ibex 35 auditing. This neglects potential contributions from smaller audit firms, creating a false dichotomy between the Big Four and a non-existent alternative.
Sustainable Development Goals
The article highlights the significant financial transactions within the auditing sector, indicating economic activity and employment within the "Big Four" accounting firms. The substantial fees paid for auditing services, such as the 132.9 million euros paid to PwC by Banco Santander, demonstrate considerable economic activity and revenue generation within the sector. This contributes to decent work and economic growth in the professional services industry.