PwC flying high after retaining easyjet audit despite 10-way tender
The re-appointment of the Big Four firm will be recommended to shareholders for approval at its AGM in February 2016
EASYJET will keep hold of PwC as its auditor after nine years in the role, despite putting the £400,000 account out to tender to nine other audit firms.
The low-budget airline announced its intention to make the recommendation to its shareholders to re-appoints PwC as its auditor for the year ending 30 September 2016, following a “robust and formal” tender process led by the chair of its audit.
The competitive tender process began with meetings with each of the UK’s top ten audit firms by fee income, through to the audit committee providing the board with a shortlist of two preferred audit firms. PwC, who were first appointed as auditor to easyJet in 2006, emerged victorious.
Following finalisation of the terms of PwC’s engagement, the re-appointment of the Big Four firm will be recommended to shareholders for approval at its AGM in February 2016.