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Auditor Independence

The Audit and Risk Committee makes recommendations to the ESB Board regarding the appointment of the external auditors and ensures that the audit services contract is subject to public tender at least once every ten years (or at shorter intervals as may be required). The last tender process was completed in 2021.

The external auditors’ independence is assessed on an ongoing basis by the Audit and Risk Committee and auditor independence and objectivity is safeguarded by a number of control measures, including:


  • Limiting the nature and value of non-audit services performed by the external auditors as covered under ESB’s policy for non-audit services
  • Monitoring the changes in relevant ethical and professional guidance related to auditor objectivity and independence
  • Confirmation that the external auditor has appropriate internal safeguards in place that are consistent with applicable standards
  • Rotating the audit partner every five years
  • Providing opportunities for the auditor to meet with the Audit and Risk Committee privately
  • Reviewing annually the effectiveness of the external auditor process
  • Annual confirmation of independence by the external auditors