EY is set to take over as external auditor to accounting software company Sage, replacing PwC, which had audited the FTSE 100 listed company's accounts since 1985.
Sage has announced the conclusion of a formal tender process for its external audit arrangements which will see EY acting as its auditors following completion of the audit for the year ending 30 September 2014.
The appointment remains subject to approval by shareholders at the next annual general meeting.
Jonathan Howell, chairman of Sage's audit committee, said: ‘We would like to thank PricewaterhouseCoopers LLP for their significant contribution as Sage's external auditors over the years, and we look forward to working with Ernst & Young LLP.’
According to Sage’s 2013 annual report, the company paid £3.3m in fees to its group auditors last year, of which £1.3m was for tax compliance and other non-audit services.
