PwC wins £9m audit contract for Vodafone
VODAFONE will replace auditor Deloitte after 26 years with rival PwC from April.
The FTSE 100 telecoms giant made the announcement following a tender process first announced in November 2013.
“We thank Deloitte for their significant contribution as Vodafone’s auditors and we look forward to working with PwC going forward,” said Vodafone audit and risk committee chairman Nick Land.
Vodafone last year paid Deloitte £9m between audit and non-audit fees.
In October the Competition Commission said that FTSE 350 companies should re-tender their audits every 10 years.
FTSE250 AUDIT CHANGES
January 2014 – British Land changed to PwC after 30 years with Deloitte
December 2013 – Marks & Spencer changed to Deloitte after 87 years with PwC
December 2013 – Berkeley Group changed to KPMG after 30 years with PwC
December 2013 – Unilever changed to KPMG after 26 years with Deloitte
August 2013 – HSBC changed to PwC after 22 years with KPMG