Kingfisher announced that, following the conclusion of a formal tender exercise for its statutory audit contract, the board has approved the appointment of its incumbent auditor, Deloitte, subject to approval by shareholders at the 2019 annual general meeting.

The company had stated its intention to complete the tender for external audit services in its annual report and accounts for the year ended 31 January 2018, and a formal competitive tender process, overseen by the audit committee, was undertaken. 

Kingfisher said the decision to re-appoint followed a recommendation by the audit committee, based on the outcome of the tender exercise.

In a statement the company said: ‘The board would like to thank Deloitte LLP for its continued contribution as the group's auditor, and the other firms that took part in the tender process.’

Kingfisher, whose brands include brands include B&Q and Screwfix in the UK, and Castorama and Brico Depot in Europe, originally appointed Deloitte in 2009/10. According to the 2017 annual report, the firm was paid £1.7m in audit fees for the year, plus an additional £400,000 in non-audit fees, making a total of £2.1m.

Report by Pat Sweet