PwC ditches audit for Rosslyn partnership, as Grant Thornton steps in

PwC ditches audit for Rosslyn partnership, as Grant Thornton steps in

PwC steps down as auditor to look into further work with Rosslyn, with Grant Thornton taking on the audit role

PwC – the UK’s most dominant audit player – has resigned its role of auditor at Rosslyn Data Technologies (RDT) to avoid any potential conflicts of interests after both parties announced they had begun discussions over a potential joint business arrangement.

Grant Thornton has stepped in to fill the vacuum after being appointed by RDT’s board. GT will act as auditors for the cloud-based enterprise data analytics outfit for the financial year ending 30 April 2015.

Charles Clark, CEO of RDT, said: “Having built a strong and trusted relationship with our PwC audit team over the last two years we will greatly miss their extremely valuable service. However, as we hope that in the future we may be able to work together with PwC as a business partner it makes sense to recognise this potential future conflict now and make the necessary adjustments. I look forward to keeping you up to date on progress.

“Despite these necessary changes we greatly look forward to building an equally strong relationship with Grant Thornton in the months ahead.”

 

 

Related Articles

PwC auditor spent just two hours on BHS audit, says chairman

Audit PwC auditor spent just two hours on BHS audit, says chairman

2d Alia Shoaib, Reporter
PwC fined a record £10m over BHS audit

Audit PwC fined a record £10m over BHS audit

2w Alia Shoaib, Reporter
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1m Emma Smith, Managing Editor
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

3m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

4m Alia Shoaib, Reporter
PwC pay gap review finds “no evidence of gender bias” at BBC

Audit PwC pay gap review finds “no evidence of gender bias” at BBC

5m Alia Shoaib, Reporter
Carillion collapse: FRC to investigate KPMG over audit work

Audit Carillion collapse: FRC to investigate KPMG over audit work

5m Alia Shoaib, Reporter
PwC slapped with 2 year audit ban in India

Audit PwC slapped with 2 year audit ban in India

5m Alia Shoaib, Reporter