BDO picks up £200k Halfords audit from KPMG
FTSE 250 car parts and bike retailer Halfords has appointed BDO as its external auditor, ending a 10-year relationship with KPMG
6 Feb 2019
BDO will take over the audit of Halfords for the financial year ending 3 April 2020, subject to approval by the company’s shareholders at its annual general meeting in July 2019.
KPMG was appointed external auditor in 2009 but did not retender.
According to Halfords annual report, KPMG was paid £201,000 in audit fees and £15,000 in audit-related fees in 2018. This compares to £235,000 in audit fees and £15,000 in audit-related fees in 2017.
Due to regulations on the percentage of non-audit services an auditor can carry out, Halfords reduced fees given to KPMG for non-audit services by £150,00 since year end 31 March 2017.
BDO will now have four FTSE 250 audits as they already audit Greencoat UK wind (£76,000 audit fees: 2017), Playtech (£892,000: 2017) and Tritax Big Box REIT (£190,000: 2017).
Report by Amy Austin