Derwent picks PwC as auditor

Derwent London, the developer behind the Tea Building in Shoreditch and the White Collar Factory at Old Street roundabout, has changed auditor for the first time in more than a decade. The FTSE 250 firm said yesterday that PwC will replace smaller rival BDO as its auditor after it put the contract out to tender. BDO was Derwent’s auditor when it was still known as Derwent Valley, before its merger with London Merchant Securities in 2007.