(13 December 2006 – Australia) PricewaterhouseCoopers has won the tender to act as auditor to Commonwealth Bank.PwC will replace current auditor Ernst & Young from the beginning of the 2008 financial year.
CBA said arrangements were being made between the bank, PwC and Ernst & Young to ensure a smooth transition to the new auditor.
CBA chief executive Ralph Norris said following an intensive process the bank would recommend PwC as its new auditor to the board.
He thanked Ernst & Young for its contribution over the past decade.