Ernst & Young to replace PwC as Sainsbury's auditor from 2016

Supermarket chain Sainsbury’s said it intends to appoint Ernst & Young LLP as the group’s auditor for the financial year ending 12 March 2016.

Ernst & Young, whose appointment remains subject to shareholders approval, would replace PricewaterhouseCoopers LLP (PwC), the group’s current auditor.

The retailer added that PwC is set to continue in its current role and will oversee the audit of the company’s accounts for the year ending 14 March.

Sainsbury’s added that its decision to replace the group’s auditor follows a recommendation by its audit committee.

“We would like to thank PwC, and specifically the Sainsbury's audit partners, for their significant contribution as the Company's auditors over many years,” said Gary Hughes, chairman of the Sainsbury's audit committee.

“Going forward we expect an orderly transition and look forward to working with Ernst & Young into the future."