Outcome of audit tender processSource: RNS
20 January 2023
HSBC HOLDINGS PLC
OUTCOME OF AUDIT TENDER PROCESS
Following the conclusion of a formal competitive audit tender process, the Board of HSBC Holdings plc (the Company) has approved the re-appointment of PricewaterhouseCoopers LLP as external auditor of the statutory audits of the Company for 2025 and beyond. The audit tender process considered both large and challenger audit firms, and was led by the Group Audit Committee.
As a UK public interest entity, we are required to tender our audit every 10 years and rotate every 20 years. We disclosed in our 2021 Annual Report & Accounts the intention to commence an audit tender, given PricewaterhouseCoopers LLP were initially appointed for the audit of the 2015 Annual Report & Accounts.
Further details of the audit tender process and evaluation criteria will be included in our 2022 Annual Report & Accounts, which is due to be published on 21 February 2023. This appointment is subject to shareholder approval at the Company's 2024 Annual General Meeting.
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HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,992bn at 30 September 2022, HSBC is one of the world's largest banking and financial services organisations.