Hays changes auditor to PwC after 27 years with Deloitte

FTSE 250 recruitment specialist Hays has chosen PwC to replace Deloitte as its external auditor following a formal tender process which saw the company make its first change in auditor for 27 years, having been with Deloitte since its listing in 1989

In a statement Hays said the board has approved the proposed appointment of PwC as the company's auditor for the financial year commencing 1 July 2016, subject to approval by shareholders at the AGM set for 9 November 2016.

‘The board of Hays plc extends its appreciation to Deloitte, the company's current auditor, for their contribution over many years,’ Hays said.

Deloitte has held the post since Hays’ listing in October 1989. In its 2015 annual report, Hays said it had resolved to undertake a full tender of the company’s external audit contract following the 2016 year-end results, when the tenure of the current audit partner at Deloitte comes to an end. The audit committee then reviewed this position following the publication of the new EU regulations and decided that a tender process will commence in early 2016.

According to the annual report, Deloitte was paid a total of £1.3m by Hays in 2015, of which £900,000 was audit fees, with a further £400,000 for non-audit work.

 

Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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