PracticeAuditDeloitte facing loss of ScottishPower audit

Deloitte facing loss of ScottishPower audit

Takeover bid will hand audit to Ernst & Young

Deloitte’s victory in securing the audit of energy group
ScottishPower from rival
PricewaterhouseCoopers may be short lived, according to a report in The
Herald
.

The paper reports that a rumoured takeover bid by Spanish power giant
Iberdrola
would almost immediately hand the audit work back to Ernst & Young, auditor
of Iberdrola.

PwC earned more than £19m in advisory fees from dual-listed ScottishPower on
both sides of the Atlantic in the last three years before losing the audit to
Deloitte.

Further reading:

Deloitte steals ScottishPower from PwC

ScotPower wants US GAAP

A week in the life of David Nish, finance director of
ScottishPower

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