THE London Stock Exchange is to replace PwC as its auditor with EY, the first time the exchange has changed auditors since it listed in 2001.
In December, the exchange announced it was putting the audit out to tender “in light of the increasing diversification, scale and reach of [the group], and also in line with good corporate governance”
The process was overseen by the LSE’s audit committee, while the appointment will take place shortly after the completion of the audit of its consolidated accounts for the year ended 31 March
The appointment of EY by the board will take place shortly after the completion of the audit of its consolidated accounts for the year ended 31 March 2014.
In a statement, it thanked PwC for the “the high quality of its audit services provided”.
Analysis by Manifest and concerns from institutional investor Standard Life raise concerns over auditor EY's potential conflicts of interest
Despite broadly welcoming mandatory rotation and restrictions to non-audit work, FTSE 350 companies are concerned about transition costs of new EU audit regime
Osborne says it is "economically illiterate to believe that Britain can cling to the “benefits” of EU membership while divorcing itself from the ensuing "obligations or costs"
FRC guidance clarifies requirements relating to going concern and solvency and liquidity risks