By Josh Beckerman
Barclays PLC has selected KPMG LLP as its auditor beginning in
2017, more than a year after announcing that it would replace
PricewaterhouseCoopers LLP amid moves by EU regulators to shake up
accounting relationships.
PwC, or former incarnations of the firm, has been the bank's
auditor since 1896. PwC will retain that role through 2016.
"We thank PwC for their significant contribution as Barclays'
auditors," Barclays said in a statement Friday.
Shareholders will vote on the KPMG appointment at the bank's
2017 annual meeting.
Describing the audit tender process, Barclays said factors
including size, experience and global presence were considered.
Five firms were shortlisted, with two declining to participate due
to their inexperience in auditing global banks. The Barclays board
audit committee recommended two firms, "with an expressed
preference for one."
The Financial Reporting Council said in December that it would
probe PwC over its role in reporting to the Financial Conduct
Authority on how Barclays complied with rules on segregating client
assets between 2007 and 2011.
Margot Patrick contributed to this article.
Write to Josh Beckerman at josh.beckerman@wsj.com
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