EY is to become auditor for FTSE250 listed private equity investment group Pantheon International from 2020. Grant Thornton has been the company's auditor since 1987. Pantheon International’s Audit Committee, taking account of the regulations for the length of auditor tenure, carried out an external audit tender process during the second half of the financial year.
As a result of the tender process, the Audit Committee has recommended to the Board that EY, whose audit team has extensive experience in auditing investment trusts, should be appointed to replace Grant Thornton as the independent external Auditor of the Company.
The company’s annual report shows that Grant Thornton was paid £55,000 in audit fees for the year to end-May 2019, down from £64,000 the previous year, together with £9,000 in audit-related assurance services and £27,000 in non-audit fees.