BBC switches £2m audit to National Audit Office as EY bows out after three years

EY faces a £2m loss in annual audit fees as it steps down from the BBC audit as the National Audit Office (NAO) takes over the contract for the 2017/18 financial years and is currently negotiating the transition.

This follows a year of change in governance and regulation at the BBC which culminates in the transfer of the audit to the NAO for the 2017/18 financial year, from statutory auditors, Ernst & Young LLP, which has been in post since its appointment in 2014 following an external tender process.