Audit firms PKF (UK) LLP and BDO LLP to merge
The partners of PKF (UK) LLP and BDO LLP have agreed a merger of the two firms, which will take effect on 28 March 2013.
PKF currently has a contract with the Audit Commission to supply audit and related services until the end of the 2016/17 financial year in the Eastern and South East areas.
The Audit Commission has undertaken due diligence, is satisfied that the new merged firm will continue to meet the Commission’s requirements, and that the contract can be novated*. The Audit Commission Board has decided it is appropriate to novate PKF’s contract to BDO. The Audit Commission proposes to formally novate the contract on 28 March 2013.
We have written to audited bodies previously to advise them of the proposed merger and the intention to change auditor appointments accordingly.
*Novate: the substitution of a new contract for an old one (lay definition)