Risk & Economy » Audit » Oil company opts for E&Y

DRAGON Oil has dumped PwC and appointed Ernst & Young s auditor.

The news came from the listed oil and gas company this morning in an announcement to the stock exchange.

PwC has had the audit for the past nine years.

Dragon work mostly in the Caspian Sea off the coast of Turmenistan. the company has other interests in Azerbaijan.

Fees for PwC in the last annual report amounted to £320,000 for the statutory audit plus other assurance services.

Dragon Oil’s share price feel marginally this morning when markets opened by around 1%.