BUNZL has said that PwC will replace its long term auditors KPMG after the FTSE 100 outsourcing group conducted its first audit tender in 28 years.
In its 2013 annual report, Bunzl said it intended to appoint a new audit firm in order to comply with good governance practice and “given KPMG’s length of tenure” as its auditor.
PwC has been named as the company’s statutory auditor for the 2014 financial year with effect from 19 May 2014, which will be subject to approval by shareholders at the 2015 annual general meeting.
Commenting on the change, David Sleath, chairman of the audit committee, said: “On behalf of the board I would like to thank KPMG for their services to the company over many years and we look forward to working with PwC in the future.”
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