Unilever drops PwC after 26-year audit

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Anglo-Dutch consumer goods company Unilever has ditched PwC as its auditor after 26 years to comply with new rotation proposals put forward by the Financial Reporting Council (FRC).

The multinational is among only a few blue-chip companies to have taken action so far and is now on the lookout for a new auditor.

Unilever CFO Jean-Marc Huët said:...

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13th Aug 2013 16:48

'bookkeeping work'

In the second to last paragraph the phrase 'bookkeeping work' is used.  Did the Competition Commission really use this phrase?  If so, they seriously misunderstood what a plc audit is, and their recommendations are correspondingly devalued.  If not, at least one accountingweb writer needs to check out the difference between audit and bookkeeping!

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