PwC lead audit partner at Barclays to step down

PwC's lead audit engagement partner at client Barclays is to be replaced after five years in the role.

Philip Rivett, the senior statutory auditor for Barclays, will step down for the 2010 year-end accounts.

Despite PwC serving as Barclays as its auditor for "many years", the audit committee said it was not necessary for the firm to tender for its audit role.

PwC's fees incurred during Barclays' year end 2009 were £52m, up from £49m a year earlier. Its audit fee rose to £23m from £19m, while tax services fees grew to £9m fro £7m.

Excluded from auditors' fees were £4m in fees paid to PwC and associates in relation to discontinued operations.

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