Last checked at 2 Nov 2017 15:15
2 November 2017
NATIONWIDE BUILDING SOCIETY
OUTCOME OF AUDIT TENDER
The Board of Nationwide Building Society ('the Society') announces its intention to appoint Ernst & Young LLP ('EY') as its auditor for the year ending 4 April 2020.
Regulations for audit firm rotation require the Society to change its external audit firm no later than 2020. PricewaterhouseCoopers LLP ('PwC'), the Society's current auditor, will continue in their role until completion of the audit for the financial year ending 4 April 2019.
A competitive tender process has been undertaken, actively overseen by the Audit Committee, resulting in a recommendation approved by the Board of the Society. The appointment of EY will therefore be recommended to the Society's members for approval at the 2019 AGM.
Commenting on the tender outcome, Kevin Parry, Chairman of the Audit Committee said: "The tender process was transparent, comprehensive and thorough. We look forward to working with EY in the future."
The Society, PwC and EY will work together to ensure a smooth transition process.
For further information please contact:
Investor queries: Alex Wall, 0207 2616568 or 07917 093632, alexander.wall@nationwide.co.uk
Media contact: Sara Batchelor, 01793 657770 or 07785 344137, sara.batchelor@nationwide.co.uk