PwC still king of the FTSE

Deloitte has closed the gap between itself and KPMG in terms of
FTSE 100 audits, but
PricewaterhouseCoopers’ dominance of the sector has not been challenged after
the latest quarterly review.

The Big Four leader still has 41 audits, maintaining the gulf between KPMG
(21), Deloitte (20) and Ernst &Young (18).

The FTSE 100 reshuffle saw Taylor Wimpey, Tullow Oil and Carphone Warehouse
catapulted into the top echelon. However, despite auditing all three of the
promoted corporates, Deloitte’s gain was blunted by two of its clients dropping
out of the blue-chip index.

Drax and Segro plc, ironically a company whose audit Deloitte poached from
PwC earlier this year, dropped into the FTSE 250 together with Kelda Group,
audited by E&Y.
More upheaval is set to hit the FTSE 100 if a high profile merger deal is
completed later this year.

E&Y will benefit from the insurance giant Resolution’s bid for rival
Friends Provident. In terms of director appointments, Resolution appears to be
the senior partner in the move, suggesting E&Y could win the audit of the
combined £8.6bn group at the expense of Friends’ auditor KPMG.

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