British American Tobacco announces Audit Tender

British American Tobacco (BAT) has today announced that it has commenced a competitive tender process to appoint new external auditors for 2015 onwards. PricewaterhouseCoopers LLP (PwC) have been the Company’s auditors since it listed on the London Stock Exchange in September 1998.

PwC, having completed the audit of the Company’s 2014 financial statements, will not seek re-appointment as the Group’s auditors at the 2015 AGM. A resolution at the AGM will ask shareholders to confirm the appointment of the successful firm following the tender process.

This situation has arisen as a result of proposed litigation by a Group subsidiary against PwC. The potential claims against PwC, which have been assigned to the Group, arose from work carried out by PwC in relation to the audit of the accounts of a third party. These claims do not concern the audit of any BAT Group company.

Given the scale and global footprint of the Company three firms have been invited to take part in the tender process being, Deloitte LLP, Ernst & Young LLP, and KPMG LLP.