Deloitte is set to become the external auditor of biotech giant CSL from the 2024 financial year, the largest audit win in the local firm’s history.
The win follows Deloitte winning the corporate audit work for Booktopia and concrete and quarries group Boral amid a flurrying of listed companies shifting auditors.
Deloitte managing partner of audit and assurance Joanne Gorton.
The move by CSL, the fourth largest company in the ASX by market capitalisation, to Deloitte will be subject to a shareholder vote at the biotech’s 2023 annual general meeting.
EY, which has been auditor of CSL since 2002, charged the company a total of $US6.45 million ($9.05 million) for providing local and international audit and non-audit services in 2021.
“Deloitte is proud that three of the ASX100 companies (CSL, Aurizon and Boral) to appoint new auditors this financial year chose Deloitte,” said Joanne Gorton, the head of Deloitte’s audit and assurance business.
“I believe these wins are a reflection of our significant investments in our audit practice, locally and globally, of our deep technical and sector expertise and of our capability to serve large complex clients.”
Deloitte CEO Adam Powick said the firm would continue “to invest in our audit talent, technology and quality to be able to serve clients like CSL with distinction.”
PwC remains the country’s largest corporate auditor, with $468 million in revenue last financial year, followed by EY ($428 million), KPMG ($343 million) and then Deloitte ($299 million).
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