The OMX Copenhagen 25 tracks a selection of the largest and most actively traded securities listed on Nasdaq Copenhagen.
There is one wrinkle when analysing its audit market. The index contains 25 securities, but A.P. Moller - Maersk appears twice through its A and B share classes. For audit-market analysis, Big4News counts Maersk once, giving a universe of 24 underlying companies.
Nasdaq’s June 2026 semi-annual review also changed the composition of the index. Nordea Bank entered and Bavarian Nordic left, with the changes taking effect on 22 June 2026.
For each company, Big4News identified the current external auditor, the first financial year of the present audit relationship where this could be established reliably, and the latest available statutory audit fee.
The dataset reflects the index at September 2026. Audit fees are shown in Danish kroner.
The table is sortable. Click any column heading to reorder the data by company, sector, auditor, tenure or audit fee.
For details on how the data is compiled, verified and standardised across the series, see Who Audits? Sources & Methodology.
PwC audits more than half of the companies
Denmark’s largest listed companies present an unusually concentrated picture.
Every one of the 24 underlying companies is audited by the Big Four.
But the work is not divided among all four firms.
PwC audits 13 companies, giving it 54.2% of the market. EY has six mandates, or 25%, while Deloitte audits five, equivalent to 20.8%.
KPMG is conspicuous by its absence from Denmark's blue-chip index. None of the 25 securities in the OMX Copenhagen 25 is currently audited by KPMG. The firm did audit Bavarian Nordic, but the vaccine maker was removed from the index in June 2026 and replaced by PwC-audited Nordea.
PwC’s dominance is even greater by audit fees
PwC audits just over half of the companies in the index but accounts for almost two-thirds of the statutory audit fees identified by Big4News.
Big4News identified a current statutory audit fee for 23 of the 24 underlying companies, with disclosed fees totalling approximately DKK 645 million.
PwC-audited companies account for about DKK 425 million, or 65.9% of that total. Deloitte accounts for approximately DKK 144 million (22.4%), while EY accounts for around DKK 76 million (11.7%).
The difference reflects the size of some of PwC’s mandates. A.P. Moller - Maersk has the largest audit fee in the dataset at approximately DKK 108 million, followed by DSV at DKK 73 million and ISS at DKK 54 million. Carlsberg, another PwC client, reports an audit fee of DKK 46 million.
Among Deloitte’s clients, Danske Bank reports DKK 45 million and Novo Nordisk DKK 43 million, while Vestas reports approximately DKK 37 million.
Who audits the world’s largest companies?
Explore the Big4News Who Audits? hub, which maps the audit firms behind the world’s leading stock-market indices — including auditor tenure, audit fees and Big Four audit market share.