September 15 ,2015 | by Hari Srinivasan

Experian audit moves to KPMG from PwC

Experian audit moves to KPMG from PwC

KPMG has won the £8m contract as external auditor for global information services giant Experian from rivals PwC.

PwC have held the position for the last decade, but Big 4 competitors KPMG will take over for the financial year ending 31 March 2017.

Market rotation

Experian, the global information and credit verification company, announced the news about replacing PwC, who have been the company's external auditors since it listed in October 2006.

The choice of KPMG sees the latest round in changes where the company has won major contracts from fierce rivals PwC.

KPMG had also been chosen by temporary power specialist Aggreko to replace PwC, which had held the contract with the company for the last 18 years.

Premier Foods, owner of the Mr Kipling, Bisto and Hovis brands, also chose KPMG as their new auditors to take over after the end of PwC's 11th set of financial statements for the company.

Experian tender process

The latest announcement comes after Experian's 2015 annual report revealed PwC received £5.1m in fees from the company, which included $3.9m for auditing the company and group financial statements. A further payout of $2.7m for work relating to advisory services and tax compliance was also made.

The announcement of KPMG as the new auditors follows the completion of a tender process that had been announced in Experian's 2015 annual report.

The decision must still be approved by shareholders at the company’s annual general meeting in 2016. 

Hari Srinivasan

Hari is the LSBF Blog's News Editor. He manages the editorial content on the blog and writes about current affairs, SME, entrepreneurship, energy, education and emerging market news.

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