BG Group switches audit firm

FTSE 100 gas company BG Group yesterday announced it had ditched PwC as its auditor, replacing it with Ernst & Young. PwC had spent 12 years auditing the books of the firm following its float in 2000. PwC UK head of assurance James Chalmers said: “We operate in a fiercely competitive market where all participants win and lose audits.” Last month, fellow FTSE 100 firm Schroders put its audit contract out to tender.