Change in Auditing Firm for TVS Logistics Group
Resignation of Ernst & Young UK
Ernst & Young LLP, also referred to as EY UK, has announced its resignation as the statutory auditors for TVS Logistics Investment UK Limited and its associated subsidiaries, RICO Logistics Limited and TVS Supply Chain Solutions Limited. This decision becomes effective as of April 4, 2025, according to a filing made with the stock exchange.
Appointment of New Auditors
In the wake of EY UK’s resignation, TVS Logistics Group has appointed PBG Associates Limited to take over the role of statutory auditor. The resignation was attributed to the company’s decision to engage another auditing firm at a reduced fee compared to EY UK’s audit charges for the fiscal year ending March 31, 2024.
About PBG Associates Limited
PBG Associates Limited is recognized as a global professional services firm, with a significant presence in 25 countries, including notable markets such as the UK, India, the USA, Germany, France, and Australia. The firm employs over 350 skilled professionals encompassing chartered accountants, certified public accountants, and tax consultants, offering expertise in various areas including Audit & Assurance, Advisory, Tax, Valuation, and Compliance.
Background on EY UK’s Tenure
Ernst & Young UK was initially appointed as the statutory auditor for the TVS Logistics Group on August 17, 2018. The transition to PBG Associates Limited marks a significant change in the group’s auditing landscape.
