Taking Stock: Will John Bason be tender with Compass audit contract?

by Taking Stock

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03 Feb 2014

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Big Four audit covenant

TS NOTED that uber-caterers Compass Group are in the midst of their audit tender process, with incumbents Deloitte holding the baton for 27 years.

Will the ‘Big Four shuffle', as coined by MSI Global Alliance chairman James Mendelssohn on Twitter today, continue? Or will one of the mid-tier pretenders pick up the work? TS doesn't have a clue...

What we do know is that it's likely to be a new experience for audit committee chair John Bason, CFO of Associated British Foods. A long-time finance chief at the food business (since 1999), ABF has had an even longer-term auditor - KPMG for 77 years, according to The Times.

He'd be forgiven for hitting autopilot and recommending KPMG for the Compass job...

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