PracticeAuditPwC resigns as Harrods auditor

PwC resigns as Harrods auditor

PricewaterhouseCoopers has confirmed that it has resigned as auditor from luxury department store Harrods.

A spokesman for PwC said the auditor had resigned from Harrods but was unable to comment further.

The reasons for PwC’s resignation remain unclear though a Harrods spokesman is reported in the national press as saying that it came about by ‘mutual agreement’.PwC will however have to file a report with Companies House explaining why they resigned.

The resignation comes at a difficult time for Harrods. Last year, its profits were hit, prompting the company to re-mortgage its flagship Knightsbridge store. Several board members and key executives have resigned in the past two years.

Harrods has denied rumours that it plans to float on the New York Stock Exchange.

Mid-tier firm Grant Thornton has confirmed it will audit the Harrods accounts.

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