RSM Takes Over from KPMG Auditing U.K.'s Greggs Bakery Chain

A major U.K.-listed bakery chain said Thursday that it had replaced its Big Four auditor with a smaller firm amid a government push to break the Big Four’s dominance of large audits.

Greggs Plc, one of the 250 largest companies listed on the London stock exchange, said it had decided to replace KPMG LLP, its auditor of more than 20 years, with RSM LLP, subject to shareholder approval. RSM is the seventh-largest U.K. accounting firm with 2020 revenues of 356 million pounds ($497 million).

U.K. and European rules require companies to change auditor at least once every 20 years. Greggs ...