In January 2015, after a long established partnership Sainsbury’s dropped Pricewaterhouse Coppers as its auditors as the accountancy firm faces an investigation into its role in the £263 million Tesco accounting scandal following a recommendation by its audit committee as the company reported better than expected trading figures in the third quarter of the financial year. In December 2014, the Financial Reporting Council announced it was conducting two separate investigations into Pricewaterhouse Coppers, one into the artificial inflating of Tesco’s accounts and secondly into another client, Barclays. From March 2015, Ernst & Young took over Sainsbury’s accounts and in May 2015, Tesco accounced that it had ended its 32 year partnership with
