Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

Sage swaps auditor for EY

by
30th Jul 2014
Save content
Have you found this content useful? Use the button above to save it to your profile.

Sage Group has swapped its long-term auditor PwC for EY. 

It said in a statement to investors on the London Stock Exchange that upon completion for the audit to year ended 30 September 2014, EY would take on its external audit responsibilities.

PwC has been Sage's external auditor for almost 26 years. 

Sage's audit committee chairman Jonathan Howell thanked the firm for its "significant contribution" as Sage's external auditors over the years. "We look forward to working with EY," he added.  

Sage’s 2013 annual report shows that it spent £3.3m in fees to its group auditors last year.

The appointment remains subject to approval by shareholders at the next annual general meeting (AGM).

It's understood that Sage swapped its auditor as best practice, and because from 1 January next year, new rules from the UK Competition and Markets Authority (CMA), formerly the Competition Commission, will introduce mandatory audit retendering every 10 years.

Tags:

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.