KPMG Wins iRhythm Audit Mandate, Replacing PwC for Fiscal 2026

iRhythm Holdings, the San Francisco-based digital health company behind the Zio wearable cardiac monitoring patch, chose KPMG to replace PricewaterhouseCoopers as its independent auditor for the fiscal year ending December 31, 2026. The company's Audit Committee made the decision on March 30, formalizing it in a Form 8-K filed with the SEC on April 1. iRhythm trades on the Nasdaq under the ticker IRTC and posted approximately $747 million in trailing twelve-month revenue heading into the engagement.

The 8-K makes clear the transition carries no baggage from the prior relationship. PwC's audit reports for fiscal years 2024 and 2025 were clean, containing no adverse opinions, no disclaimers, and no modifications related to uncertainty, audit scope, or accounting principles. The filing also confirmed there were no disagreements between iRhythm and PwC on accounting principles, financial statement disclosures, or auditing scope through the March 30 transition date. PwC furnished a letter dated March 31 acknowledging the company's characterization of the switch, the standard Exhibit 16.1 required by SEC rules.

For KPMG's audit teams, the engagement clock started immediately. A new public-company client of this size triggers a sequential and labor-intensive onboarding: acceptance and continuance documentation, firm-wide independence clearance, client risk assessment and fraud inquiry procedures, partner and engagement leader assignment, interim fieldwork scheduling, and the setup of audit technology and data access protocols. The 8-K also notes that iRhythm did not consult KPMG about accounting applications during the two prior fiscal years, satisfying the independence disclosure required under SEC rules.

Staffing impacts will land on audit managers, seniors, and specialists across both interim and year-end workstreams before December 31. The timing compresses the ramp: with nearly nine months left in iRhythm's fiscal year, the team stepping onto this engagement inherits an accelerated planning cycle with no predecessor knowledge base to pull from.

The win also carries BD weight beyond the audit itself. An SEC-reporting digital health company with a $3.79 billion market cap and first-ever positive GAAP net income opens potential cross-sell lanes in tax, advisory, internal controls, and revenue recognition work. For auditors building toward manager and senior manager milestones, a NASDAQ-listed company with complex healthcare revenue streams and an FDA-cleared device offering represents the kind of technical exposure that moves the needle on promotion evaluations far faster than a steady-state middle-market client.