EY wins audit of Land Securities
11 June 2013
EY (EY) has today been appointed as auditor to Land Securities Group plc - the largest listed commercial property company in the UK and a member of the FTSE 100 – following a competitive tender process.
EY has a market leading position in the audit of Real Estate Investment Trusts (REITs) globally, auditing the largest REITs in the USA, Australia, France and Canada (the four largest REIT markets in the world) - and now the UK. The firm now audits 33%, by market value, of the real estate constituents of the 2012 Forbes Global 2000 index.
Hywel Ball, head of assurance, UK & Ireland at EY, says: “We have always been extremely proud to be associated with the leading owners of real estate across the world and our UK real estate practice, comprising 325 real estate specialists, is delighted and honoured to be selected as the auditor of such a prestigious organisation as Land Securities.”
Land Securities are the latest of a number of FTSE 100 organisations to have placed their audit out for tender, following revisions made to the UK Corporate Governance Code in 2012. In October EY won the audit for BG Group, another FTSE 100 company. In the last 12 months other EY wins include Dyson and the Audit Commission.