PracticeAuditLatest Big Four auditor changes

Latest Big Four auditor changes

Rounding up the latest Big Four auditor appointments and swaps, including BHP Billiton, Paypoint & Cranswick

EY becomes BHP Billiton’s auditor

EY has been appointed as auditor of BHP Billiton by its board following a comprehensive tender process for the year beginning 1 July 2019, subject to shareholder approval.

The mining company is listed on both the Australian Securities Exchange (ASX) and the Financial Times Stock Exchange (FTSE) and has a combined market capitalisation of £80bn.

EY will take on a global role, with core teams in offices around the world.

Hywel Ball, EY’s UK head of audit, said: “We are thrilled to be named auditors to BHP Billiton and are proud to have been selected from among the competition.

“BHP is the largest diversified miner in the world. Our global structure, combined with our wealth of experience in the sector, helps enable us to advise international businesses of this scale. We are delighted about the opportunities this audit win will bring to our people across the globe.”

KPMG to audit Paypoint

After an audit tender process, KPMG has been chosen to audit payment services company Paypoint following Deloitte’s resignation, effective immediately. The decision has been board-approved and is subject to shareholder approval. Deloitte did not participate in the tender process.

Paypoint netted revenue of £211.9m in 2017.

PwC appointed auditor of Cranswick

PwC has been appointed as auditor of FTSE 250 company Cranswick, replacing EY. PwC won the tender process, which EY did not participate in due to its extended tenure as the food production company’s auditor, since 1972.

PwC have recently been fined a record £5.1m over RSM Tenon audit and KPMG were fined £4.8m over Miller Energy audit.

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