PwC has been appointed auditor of FTSE 250 food producer Cranswick, after EY’s 45-year spell came to an end
PwC will assume the role for the year ending 31 March 2018. In the year to 31 March 2017, EY received £242,000 for its work, with £67,000 derived from non-audit fees, Cranswick’s annual report shows.
Cranswick is one of the largest food producers in the UK with a turnover of approximately £1.2bn and a workforce of more than 9,000 people. It specialises in predominantly fresh products including pork, convenience, gourmet products and poultry.
‘Within the spirit of new corporate governance rules, given their long association with the Group, EY were not asked to re-tender for the audit,’ said Cranswick audit committee chairman Mark Reckitt. ‘On behalf of the board, I would like to thank EY for their input over the last 45 years. I would also like to welcome PwC to the role from next year and look forward to a strong working relationship with them in the coming years.’
Cranswick’s annual report can be read here.
