PracticeAccounting FirmsPwC win Aberdeen audit after KPMG’s 32-year reign

PwC win Aberdeen audit after KPMG's 32-year reign

The move follows a recommendation by Aberdeen's audit committee as noted in its 2014 annual report

PwC win Aberdeen audit after KPMG’s 32-year reign

PWC will take over the £2.1m audit of Aberdeen Asset Management from KPMG, the financial services company has announced.

KPMG, which has audited the FTSE 100 investment company since 1983, will formally hand-over the £1.5m audit and £0.6m non-audit fee account after completing the external audit for the year ending 30 September 2015.

Shareholder approval will be needed to confirm the appointment of PwC at its 2016 AGM. The move follows a recommendation by Aberdeen’s audit committee as noted in its 2014 annual report.

Jim Pettigrew, chairman of Aberdeen’s audit committee said: “KPMG has been the group’s auditor since the business was established in 1983 and we would like to thank them for their significant contribution as auditors and for their consistently high standards of professionalism in executing this role.

“We have undertaken a full and thorough tender process overseen by the audit committee and we look forward to working with PwC in the future.”

According to the latest Accountancy Age Top 50+50, PwC delivered a 6% increase in audit fees over the past year, rising to £1.03bn. KMPG’s audit division grew by 2.9% to £495m.

 

Related Articles

KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2d Emma Smith, Managing Editor
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2w Alia Shoaib, Reporter
Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

2w Alia Shoaib, Reporter
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

1m Alia Shoaib, Reporter
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

2m Alia Shoaib, Reporter
PwC’s five strategic priorities for becoming ‘the leading professional services firm’

Accounting Firms PwC’s five strategic priorities for becoming ‘the leading professional services firm’

4w Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

1m Emma Smith, Managing Editor
PwC publishes 12.8% BAME pay gap

Accounting Firms PwC publishes 12.8% BAME pay gap

1m Emma Smith, Managing Editor