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Danny McCance 22 Aug 2017 11:15am

EY wins mining audit

The Big Four firm fought off competition in the tender for the audit of multinational mining corporation BHP Billiton

Subject to shareholder approval, EY will take over from fellow Big Four firm KPMG from 1 July 2019, with combined teams across the world, including in the UK.

BHP Billiton, which is dual listed on both the Australian Securities Exchange and the FTSE, last year held a combined market capitalisation of £80bn. The group's 2016 annual report states that the audit fees for that financial year was $15.8m for assurance services and total fees of $16.9m.

KPMG have been sole auditors for the group since a competitive audit review in 2003. Prior to this, KPMG and PwC had been joint auditors for the business following their appointment after the last audit tender in 2002.

The latest win is more good news for the firm, which at the beginning of the month won the audit of the UK’s largest cane sugar brand, Tate & Lyle.

Last week the firm also launched its new digital skills offering, a system of digital skills badges which its staff can earn to “differentiate themselves” in the marketplace.

EY has also found itself in the news for other reasons this month, when the media in New Zealand abandoned EY’s national journalism awards over allegations of an ethics conflict of interest.

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