Trans Hex: Pwc and Audit Rotation

trans hex: Also last month, investment holding company Zarclear announced that it would retire Deloitte and replace it with BDO after a disagreement over audit fees, and in an effort to reduce operating costs, according to The Independent. In January, Trans Hex also cited the need to reduce operating costs as the reasons for retiring PwC in favour of Mazars. PwC lasted less than four years as auditor, and the Vodacom stock exchange announcement leaves us none the wiser as to the reason, other than that a review of suppliers happens from time to time . Two weeks ago Life Healthcare announced it would replace PwC with Deloitte at the end of the current financial year in anticipation of mandatory audit rotation, which kicks in in 2023. And so it goes. KPMG had been the company's auditors since 2007 and was being rotated out in the interests of good governance. Afrox last month said goodbye to KPMG and welcomed PwC as auditors. (news.financializer.com). As reported in the news.