Boohoo seeks new auditor amid ‘PwC quits’ reports

Boohoo co-founders Carol Kane and Mahmud Kamani

Boohoo Group Plc told Reuters on Friday it has started a process to appoint a new auditor following a report that claimed PwC is to resign from the role amid ongoing concerns about working conditions and pay rates in factories that supply the firm.

Some aspects of Boohoo’s wider corporate governance have also raised eyebrows.

The Financial Times newspaper reported that Boohoo’s current auditor PwC has signalled its intention to resign on concerns about the risks of continuing to work for the fashion retailer after its recent supply chain scandal.

“PWC has not resigned as auditor to Boohoo but a process has recently commenced to tender for a new provider of audit services”, a Boohoo spokesperson said in an emailed statement in response to the FT report.

PwC declined to comment.

Boohoo said last month the independent review of its UK supply chain led by Alison Levitt QC “identified many failings in the Leicester supply chain and recommended improvements to Boohoo’s related corporate governance, compliance and monitoring processes.”

Boohoo’s brands also include and Nasty Gal as well as Oasis, Warehouse, MissPap, Karen Millen and Coast.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.