Boohoo prepares for appointment of new auditor

Boohoo Group Plc said on Friday a process has begun to appoint a new auditor at the British fashion retailer. Boohoo, which sells own-brand clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, has been under intense scrutiny since July when the allegations surfaced after a lockdown during the coronavirus pandemic.

Boohoo Group Plc said on Friday a process has begun to appoint a new auditor at the British fashion retailer. The Financial Times newspaper had reported https://on.ft.com/37bL4ZM earlier that Boohoo's current auditor PwC has resigned on concerns about the risks of continuing to work for the fashion retailer after a 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 when contacted by Reuters.

Last month, Boohoo accepted all the recommendations of an independent review which found several failings in its supply chain in England after allegations about working conditions and low pay, setting out steps to tackle the problems. Boohoo, which sells own-brand clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, has been under intense scrutiny since July when the allegations surfaced after a lockdown during the coronavirus pandemic.