Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

HSBC Names PwC Auditor, Replacing KPMG After Two Decades

HSBC Holdings Plc, Europe’s largest bank, appointed PricewaterhouseCoopers LLP as auditor, dropping KPMG LLP after more than two decades.

PwC will audit the 2015 fiscal year for the lender, subject to approval from shareholders at the bank’s annual meeting in May, HSBC said in a statement today.

KPMG won the business in 1991 without going through a bidding process, the lender said in its annual report in March. HSBC paid the accounting firm $80.5 million in 2012 for work including audit, tax compliance, computer security and help valuing assets.

British antitrust regulators said last month large companies should be required to put their auditing contract out to tender every five years to boost competition in the industry.

Auditors have been criticized for not spotting practices that led to the financial crisis of 2008. The House of Lords’ Economic Affairs Committee said in a 2011 report said there had been “grave defects in the auditing of banks.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.