UBS executives have chosen EY for one of the world’s most lucrative banking audit contracts after deciding to retain the Big Four firm following its takeover of Credit Suisse.
EY, which has been UBS’s external auditor since 1998, will audit the enlarged bank from 2024, according to people with knowledge of the decision. The size of the contract means EY will have to call in staff from other countries to work on the audit, two people said.
PwC, which had been Credit Suisse’s auditor, will audit the stricken bank’s accounts for 2023, according to people with knowledge of the matter.
Read the full story on the Financial Times here.