In this month’s audit updates, Mazars wins AIG UK audit, Carillion audit probe delayed, global audit ethics overhauled, corporate governance tick box approach slammed, and independence call for local audit oversight.
Mid-tier audit firm Mazars has been lined up to take over the audit of AIG UK, the subsidiary of the listed US insurance giant AIG, breaking a 40-year PwC audit relationship.
Mazars will only audit the UK subsidiary, while incumbent PwC US will continue to handle the global audit business for AIG, including AIG Europe SA. The insurer restructured its European business after the Brexit vote, creating a standalone UK entity in December 2018 and a new European subsidiary in Luxembourg.
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