Hays recruits PwC as auditor
PwC takes over from Deloitte as Hays' auditor
PwC takes over from Deloitte as Hays' auditor
RECRUITMENT CONSULTANCY HAYS has appointed PwC as auditor following a tender process.
PwC’s term as auditor will commence from the financial year beginning 1 July 2016.
This appointment remains subject to approval by shareholders at the Annual General Meeting to be held on 9 November 2016.
The post was worth around £0.9m to incumbent firm Deloitte in audit fees, while it also garnered approximately £0.4m for non-audit work.
There has been an increase in audit changes as EU audit reform looms next month, which will see mandatory tendering every ten years among public interest entities, with mandatory rotation of auditors every 20 years.
The move is intended to open the FTSE 350 market up to more audit firms such as Grant Thornton and BDO, although there have been warnings it could “further entrench” the Big Four’s market position.
That position has been met with some resistance, however, with some market commentators suggesting it could take as long as ten years to see the fruits of the regulation.
More about:
The numbers you crunch tell a story. Your expertis...
8yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThis month saw a series of appointments and promotions from the industry's mid-tier firm Read More...
View articleAfter cooperating with the inquiry, the firms and partners received a reduction in fines Read More...
View articleThe Big Four firm was found guilty of breaches in relation to cash and the audit of supplier rebates Read More...
View articleBenefits, apprenticeships, culture, and regional desirability are among the key factors, according to market participants Read More...
View articleAccountancy Age spoke with Azets' new CEO Chris Horne, who outlined the key goals for his tenure Read More...
View articleFollowing the release of the Brydon report, in which Sir Donald Brydon has made 64 recommendations on how to improve the troubled UK audit industry, A...
View articleAccountancy Age spoke with Deloitte tax innovation experts Andy Gold and Chuck Kosal on the topic of Deloitte's tax plans for 2020, innovative tax sol...
View articleAccountancy is one of the sectors that could benefit from dyslexic employees as the profession evolves, recruitment professionals say. Read More...
View article