• Register
Return to: Home > News > IHG to switch to PWC for audit

IHG to switch to PWC for audit

London-listed InterContinental Hotels Group PLC (IHG) has chosen to switch auditors and has appointed PWC as statutory auditor for the year to end-December 2021 following a competitive audit tender. The proposal is subject to a vote by shareholders at the 2021 Annual General Meeting. The company had previously revealed in its 2018 annual report that it would be holding a tender, in line with the EU Audit Regulation Directive (ARD) and Competition and Markets Authority rules.

EY, which has audited IHG since in listed on the London market in 2003, will continue to undertake the role of auditor for the financial years 2019 and [subject to shareholder vote] 2020. In fact, EY’s association with IHG goes back further as the firm was also responsible for the audit of the group’s predecessors for several years.

In 2018, IHG paid EY a total of $7.8m, of which $3.3m was for the audit of IHG’s financial statement, including $400,000 for advice on the implementation of new accounting standards. A further $2.9m was paid for the audit of subsidiaries. Total remuneration paid to EY by the company in 2017 was $6.7m.

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.