BHP Billiton Announces External Auditors.Business Editors MELBOURNE, Australia--(BUSINESS WIRE)--May 3, 2002 At the time of the merger, BHP Billiton BHP Billiton is the world's largest mining company.[1] Its origin is in the 2001 merger of Australia's Broken Hill Proprietary Company (BHP) and the UK's Billiton, which has a South African background. The result is a dual-listed company. (NYSE NYSE See: New York Stock Exchange :BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. ) announced it would put its external audit to tender and would confine the tendering parties to those of its current auditors - KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen and PricewaterhouseCoopers (previously joint auditors for Billiton) and Andersen (previously BHP's auditor). The Board today announced the appointment of KPMG and PricewaterhouseCoopers as joint auditors from the commencement of the 2003 financial year. The Risk Management & Audit Committee of the Company will work with all three existing auditors to ensure a smooth transition from Andersen. Membership of that Committee will, along with all other Committees of the Board, be reconstituted following the re-structure of the Board that was announced yesterday. Details of Committee membership will be announced at a later time. In announcing the appointment of the auditors the Board reiterated current company policy relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the performance of non-audit work by the statutory audit firms. The policy was implemented in 2001. Non-audit work is prohibited pro·hib·it tr.v. pro·hib·it·ed, pro·hib·it·ing, pro·hib·its 1. To forbid by authority: Smoking is prohibited in most theaters. See Synonyms at forbid. 2. where independence may be compromised or conflicts arise. The Board expressed its appreciation to Andersen for that firm's commitment and service to BHP and its shareholders over more than 60 years. Further information can be found on our Internet site: http://www.bhpbilliton.com. |
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