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Audit engagement concluded for Baywa by PwC

Audit authority of BayWa, troubled agricultural trader, faces potential replacement by the supervisory board, endangering PwC's mandate.

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A Shift in BayWa's Auditor by 2025? Pressure Mounting on Munich Subsidiary's Current Auditor

A Change on the Horizon for BayWa's Auditor?

Audit engagement concluded for Baywa by PwC

In the bustling city of Munich, the agricultural trading company BayWa is facing pressure to replace its current auditor, PriceWaterhouseCoopers (PwC). According to rumbling whispers from Börsen-Zeitung, the supervisory board of the mixed group – which belongs to the cooperative sector – is growing increasingly critical of PwC's activities, particularly in the wake of the financial supervisory authority BaFin's order for an audit of the consolidated financial statements and management report for 2023 back in November.

As the storm clouds gather, several prominent auditing firms have been noted as potential contenders to inherit PwC's role. Among these firms, the Big Four – including Deloitte, Ernst & Young (EY), and KPMG – are strong candidates due to their extensive experience in auditing large-scale companies across various sectors. BDO, while not part of the Big Four, could also offer BayWa a credible alternative to PwC.

However, it's important to note that no specific information has surfaced indicating that BayWa is actively seeking to change auditors or that a potential successor for PwC has been identified. Any changes in auditors would typically be made publicly known by BayWa or reported in financial news channels. Stay tuned for further developments!

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  1. The supervisory board of BayWa might be considering replacing its current auditor, PriceWaterhouseCoopers (PwC), by 2025, as they are growing increasingly critical of PwC's activities, particularly in the financial business.
  2. Among the potential auditing firms that could succeed PwC, the Big Four – Deloitte, Ernst & Young (EY), KPMG – are strong candidates due to their extensive experience in auditing large businesses.
  3. In the search for a new auditor, BDO, while not part of the Big Four, could also offer BayWa a credible alternative to PwC.
  4. Any changes in auditors, such as PwC being replaced, would typically be made public by BayWa or reported in financial news channels before 2025.
Uncertain future for PwC's auditing role for troubled agricultural company BayWa. Company's oversight board mulls potential replacement of auditor amidst crises.

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