PwC gets vocal over lost BG audit

PwC gets vocal over lost BG audit

The Big Four firm is unusually chatty about losing a major audit, notes TS...

TS WAS INTRIGUED to see that PwC had issued a comment over losing the BG Group audit to E&Y.

‘That’s an unusual thing to do’ was the gist of comments from within the bowels of TS Towers yesterday afternoon.

In fact, firms don’t seem to like any attention even when they win audit contracts. They don’t like talking about clients, you see. What a boring lot.

So here’s what James Chalmers, PwC’s UK head of assurance, said: “We operate in a fiercely competitive market where all participants win and lose audits. We are committed to delivering high-quality audits for the benefit of our clients and their shareholders.”

And then it became clear to TS. What message is PwC (along with the other Big Four firms) trying to push out? That the market is competitive enough without those nasty Competition Commission or EC bods sticking their noses in.

Hence, PwC’s comment. TS isn’t just a pretty face, you know.

Related Articles

FRC strikes out at PwC's BHS audit quality following leaked report

Audit FRC strikes out at PwC's BHS audit quality following leaked report

1w Lucy Skoulding, Reporter
FRC data on Big Four audits may highlight need for industry overhaul

Audit FRC data on Big Four audits may highlight need for industry overhaul

2w Lucy Skoulding, Reporter
BDO maintains lead in AIM auditor rankings

Audit BDO maintains lead in AIM auditor rankings

3w Lucy Skoulding, Reporter
Another accounting error for BT Group as £500m pension deficit mistake revealed

Audit Another accounting error for BT Group as £500m pension deficit mistake revealed

3w Lucy Skoulding, Reporter
PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

Audit PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

1m Alia Shoaib, Reporter
PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

Audit PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

2m Alia Shoaib, Reporter
PwC auditor spent just two hours on BHS audit, says chairman

Audit PwC auditor spent just two hours on BHS audit, says chairman

2m Alia Shoaib, Reporter
PwC fined a record £10m over BHS audit

Audit PwC fined a record £10m over BHS audit

2m Alia Shoaib, Reporter