HSBC drops KPMG after two decade stint

British multinational bank HSBC has ditched KPMG in favour of PwC after more than two decades as the bank’s auditor.

Europe’s largest bank is the most lucrative audit in the FTSE 100 and the new appointment cements PwC’s position as the most dominant auditor in banking. The Big Four firm already audits the accounts of Barclays and Lloyds.

Following a competitive tender process, HSBC...

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