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Sainsbury's to drop auditor PricewaterhouseCoopers for Ernst & Young

Published 16/01/2015, 08:01
© Reuters. A Sainsbury's supermarket sign is seen in London
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LONDON (Reuters) - British grocer Sainsbury's (L:SBRY) plans to drop PricewaterhouseCoopers (PWC.UL) as its auditor this year and replace it with rival Ernst & Young [ERNY.UL], it said on Friday.

Sainsbury's said its board will recommend the change to investors for their approval at its annual shareholders' meeting in July.

It said the move follows a formal tender process.

© Reuters. A Sainsbury's supermarket sign is seen in London

Sainsbury's said PricewaterhouseCoopers will audit the results for the year to March 14 2015 before Ernst & Young takes over.

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