E&Y takes over audit duties at UBM
Business information provider, United Business Media plc, has appointed Ernst & Young as its auditors, replacing PricewaterhouseCoopers after a ten-year spell.
E&Y will conduct the company audit for the year ending 31 December 2002 following a formal review process by the audit committee, which takes place every five years.
UBM thanked PwC for providing ‘quality service’ and demonstrating a ‘high level of professionalism’.
When contacted by AccountancyAge.com, PwC said it did not comment on ‘client affairs’, while UBM could not be reached for a response.
At the beginning of May, at the company annual general meeting, UBM revealed healthy annual results. Its market research, news distribution and professional media divisions yielded combined profits of £91.1m on total turnover of £853m