Cheung Kong plans to drop its auditor, Deloitte Touche Tohmatsu, which has been checking its books since the property company was listed in 1972, to streamline its auditing.
PricewaterhouseCoopers, which audits associate Hutchison Whampoa, will replace Deloitte.
Deputy managing director Edmond Ip Tak-chuen yesterday said the decision was intended to improve efficiency, consistency and more timely reporting.
Ip (pictured) said while the audit of Cheung Kong was relatively straightforward, the work at Hutchison was more complex.
'Considering the substantial asset base of Hutchison Whampoa as well as the significant scale and diversity of its global businesses which span 53 countries, appointing PricewaterhouseCoopers for Cheung Kong would be the logical choice,' he said.
The proposal to appoint PwC will need the approval of shareholders at the annual general meeting on May 25.