UK transport firm FirstGroup is to ask shareholders to approve the appointment of PricewaterhouseCoopers LLP (PwC) as its new auditor with effect from the year commencing 1 April 2020.

This decision follows a formal competitive tender process which has been overseen by the audit committee. Deloitte, the company's current auditor, will undertake and complete the audit for the year ended 31 March 2020, following which they will resign. Deloitte did not participate in the tender process due to the rules on the mandatory rotation of auditors.