At the end of last month, 200-year old asset manager Schroders ended its 57-year relationship with its auditor PwC. The move was widely seen as preparation for new EU-wide auditor rotation rules that will come into force on 17 June this year— rules based on an EU directive that was originally published in May 2014, following a series of meetings and endorsements by the EU parliament that began in December 2013.
