Wetherspoons to replace PwC as auditor

Wetherspoons to replace PwC as auditor

J D Wetherspoon will replace PwC as its auditor, terminating a 34 year relationship

J D Wetherspoon will replace PwC as its auditor, terminating a 34 year relationship.

The pub chain confirmed that after a competitive tender process it is recommending Grant Thornton, top 5 firm, to its shareholders as replacement auditor.

PwC will continue auditing Wetherspoons until 31 July 2017.

European audit reform legislation that came into effect last year requires companies to put their audit out to tender every 10 years. PwC did not put a tender offer in following Wetherspoon’s decision to enforce mandatory audit rotation.

The Big 4 firm earned £217,000 from the FTSE 250 company in 2016, according to Wetherspoon’s annual report.

This follows news that Ukraine has removed PwC’s bank auditing rights.

Grant Thornton recently made appointments to its transaction advisory services and with an independent non-executive director.

Related Articles

Patisserie Valerie rescued in management buyout backed by Causeway Capital Partners

Audit Patisserie Valerie rescued in management buyout backed by Causeway Capital Partners

2d Lucy Skoulding, Reporter
"There isn't a single answer to fixing the cyber security problem," says Rainbird CEO

Audit "There isn't a single answer to fixing the cyber security problem," says Rainbird CEO

3d Emanuela Hawker, Reporter
What do audit clients think about audit?

Audit What do audit clients think about audit?

5d Emanuela Hawker, Reporter
Time for an overhaul of public audit

Audit Time for an overhaul of public audit

1w John Tizard and David Walker
Audit reform: The devil is in the detail

Audit Audit reform: The devil is in the detail

2w Ruth Bender
Has the audit process improved since Carillion? No, say company secretaries

Audit Has the audit process improved since Carillion? No, say company secretaries

3w Beth McLoughlin, Managing Editor
EY to improve audits via independent panel

Audit EY to improve audits via independent panel

3w Lucy Skoulding, Reporter
Patisserie Valerie plunges into administration closing 70 cafes immediately

Audit Patisserie Valerie plunges into administration closing 70 cafes immediately

3w Lucy Skoulding, Reporter