13th Nov 2014 11:20
LONDON (Alliance News) - G4S PLC Thursday said it has recommended shareholders approve its plan to hand its audit contract to PricewaterhouseCoopers LLP for its 2015 financial year.
The FTSE 100 security company said it has recommended the switch to PwC from Big Four rival KPMG Audit PLC following a formal tender process.
It was the second FTSE 100 win for PwC this week, after Diageo said Tuesday it was switching to PwC, also from KPMG.
The companies are following new guidance that auditors are changed more frequently than they have been in the past.
G4S shares were up 0.8% to 272.036 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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