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Deloitte has been named as the new auditor of Anglo-South African international banking and wealth management group Investec.
Investec revealed that following a “comprehensive tender process”, Deloitte has been nominated as its new external auditor for the reporting period ending 31 March 2025, following the conclusion of a competitive tender process led by the company’s audit committee.
Investec said the appointment will be recommended for approval to the ordinary shareholders at its annual general meeting to be held in August 2024.
The tender process had been carried out in line with Competition and Markets Authority regulations, applicable EU requirements and Financial Reporting Council guidance and considered both large and challenger audit firms.
It is proposed that the incumbent auditors EY LLP (EY) will continue in their role for the reporting period ending 31 March 2024.
Investec added a formal transition process will commence from 01 April 2023 whereby the appointed firm will observe the full audit cycle performed by the incumbent auditors.
