Stobart picks KPMG for audit

 
Michael Bow
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LOGISTICS business Stobart Group, the company behind the iconic Eddie Stobart lorries, yesterday appointed KPMG as its new auditors, ending a decade long relationship with the incumbent Ernst & Young.

The Carlisle-based lorry firm, listed on the FTSE 250, appointed KPMG Audit after it beat off Ernst & Young and another unidentified professional services firm following a formal tender process undertaken in May.

It is the first time Stobart, which floated on the FTSE in 2007, has put its audit role out to tender since Ernst & Young was first appointed to the role in 2002.

It gives KPMG a second scalp from the firm after it won FTSE 100 copper producer Kazakhmys from E&Y at the end of June.