Online fast fashion giant Boohoo has confirmed that its auditors at PwC are cutting ties with the business, after it was caught up in questions over the minimum wage and conditions in its supply chain.
Boohoo said it is looking for experts to audit its accounts, but that PwC has ruled itself out of the process.
PwC鈥檚 auditors have signed off on the company鈥檚 records for the last six years, Boohoo said. They have already signed an unqualified opinion on Boohoo鈥檚 accounts for the 2020 financial year.
The confirmation comes after the Financial Times reported on Friday that PwC had resigned the role some time within the last month.
In a statement on Monday, Boohoo said: 鈥淭he group would like to place on record that PwC is still the group鈥檚 auditor at this time.
鈥淭he group鈥檚 Audit Committee has recently launched a competitive tender process for the group鈥檚 audit, and will update shareholders at its conclusion.
鈥淧wC signed an unqualified opinion on the group鈥檚 2020 financial statements and, having served as the group鈥檚 auditor since 2014, is not participating in this process.鈥
Since July Boohoo has been facing ramped-up allegations that it has not taken the right steps to ensure that workers in its supply chain are treated correctly.
Last month, a top QC, who was appointed by Boohoo to probe the allegations, found that there were 鈥渟erious issues鈥 in the company鈥檚 supply chain.
Alison Levitt said: 鈥淏oohoo has not felt any real sense of responsibility for the factory workers in Leicester and the reason is a very human one: it is because they are largely invisible to them.鈥
She said bosses had been aware of problems at their suppliers since at least the end of last year.
