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Centrica lines up audit tender process

RETAIL GAS business Centrica is lining up an audit tender in the next couple of years.

The FTSE-listed business has been audited by PwC since it was formed from the demerger of British Gas into exploration and retail businesses.

In Centrica’s 2013 annual report, it has outlined intention to tender its audit before 2017. PwC has been recommended by the audit committee to continue in the role, which will be proposed at Centrica’s next AGM.

PwC received £8.7m in fees for its work with Centrica, which includes £3.1m for non-audit services.

Centrica also stated that Deloitte a range of services during the year, in areas including employment taxes, share schemes, pensions, corporate finance, management consulting and internal audit.

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