Flutter has backtracked on a plan to replace long-standing auditor KPMG with Deloitte after the gambling group’s decision to list its shares in New York freed it from independence rules that would have required it to rotate.
The decision to use the flexibility afforded by US rules to continue into a third decade of having its accounts checked by KPMG means Deloitte will miss out on a lucrative audit fee, which rose to $22mn last year.
Flutter, owner of bookmakers Paddy Power and Betfair, ran a competitive tender in 2022 to find a new auditor to take over from KPMG from 2024.
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