PracticeAuditSmith & Nephew shareholders urged to sack E&Y

Smith & Nephew shareholders urged to sack E&Y

Shareholders at medical equipment group Smith & Nephew are being urged to vote against the re-appointment of Ernst & Young as auditor at its AGM later this week.

Link: Shareholders to oppose Stagecoach chief’s pay deal

Shareholders activist group Pensions Investment Research Consultants (Pirc), say stockholders should vote against E&Y over the ‘excessive’ fees it earns from its non-audit work, The Observer reported.

According to Pirc: non-audit fees stand at £4.1m, while audit fees are just £1.3m.

Pirc also wants shareholders to vote against the remuneration report because bonus targets are too lax and termination provisions too generous for directors leaving before their contracts end.

The AGM takes place on Thursday.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

3d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

1w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

1w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor