The behaviour of a current supplier!19 Oct 2020 19:56
Like many on here I have been reading the developing Boohoo (I hold and have topped up) auditor’s story and one thing occurs to me. PWC are continuing as auditors until another company is appointed so they are currently a professional supplier to Boohoo. Since when did a supplier slang off its client in what appears to be sour grapes, so publicly as has happened in this situation, especially when they had recently signed off the accounts unreservedly. For sure Boohoo’s audit committee’s search for a new auditor would have been spotted and reported on at some point but as far as I can see it was PWC’s comment of concern which started this share crash. I am by no means an expert on these matters but surely Boohoo should have some recourse to its current auditors for the damage they have caused to their SP and reputation unless PWC can promptly back it up. Indeed, if they can back it up then why did they sign off the accounts without question? Any thoughts?