Building materials supplier Travis Perkins has become the latest FTSE 100 company to announce a change of external auditor, with Deloitte stepping down after more than 30 years to be replaced by KPMG
Travis Perkins is the largest supplier of building materials in the UK, with brands including Benchmarx and Wickes.
In its 2013 annual report, the group signalled its intention to begin an audit tender during 2014, in response to changes in regulatory requirements.
In an announcement to the London stock exchange, Travis Perkins said KPMG is appointed as the group’s auditor for the year ended 31 December 2015.
The statement said: ‘Three firms, including the incumbent auditor took part in the process which culminated in a presentation to the audit committee.
‘The group's incumbent auditor, Deloitte LLP, has been the group's auditor for over 30 years.
‘Having completed the audit of the 2014 accounts Deloitte will not seek re-election at the Annual General Meeting and will therefore cease to hold office at the conclusion of that meeting.’
According to the 2013 annual report, Deloitte was paid a total of £630,000 in fees by Travis Perkins for the year, made up of £442,000 in audit fees for the company and its subsidiaries, plus a further £188,000 for audit-related assurance services and other taxation services.