London Stock Exchange puts audit out to tender

THE LONDON STOCK EXCHANGE is to put its audit out to tender.

Current auditor PwC has been the exchange’s auditor since at least when it listed, back in 2001.

The exchange said it was putting the audit out to tender “in light of the increasing diversification, scale and reach of [the group], and also in line with good corporate governance”.

The appointment is expected be confirmed in summer 2014.

Audit tenders have been prevalent in 2013, with the UK and EU regulators looking to open up the market through enforced tendering and rotation. Those that have changed hands include: Berkeley Group; Marks & Spencer; and Unilever.

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