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John Lewis ends PwC audit partnership

John Lewis has parted ways with its auditor for the last 20 years PricewaterhouseCoopers.

The retailer ended its partnership with PwC as the professional services firm faces investigation by accounting watchdog, the Financial Reporting Council, for its auditing of Tesco in the wake of the grocer’s £263m accounting scandal.

For the 2016-2017 financial year, John Lewis will instead work with rival firm KPMG.

The chair of John Lewis’ Audit and Risk Committee, Baroness Hogg, said: “We thank PricewaterhouseCoopers for their strong contribution as the Partnership’s auditors over many years and for this coming year. We look forward to working with KPMG for the 2016/17 financial year.”

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