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ABB intents to propose KPMG as external auditor from 2018.

M2 EQUITYBITES-May 22, 2017-ABB intents to propose KPMG as external auditor from 2018


ABB (SIX:ABBN) announced on Friday the proposal by its board of directors to appoint KPMG as its external auditor effective for the financial year 2018.

Reportedly, this decision was taken following a year-long comprehensive external auditor tender process initiated in 2016 in line with international good governance practices.

This proposal is subject to shareholder approval at ABB's 2018 Annual General Meeting.

Ernst & Young , which has been ABB's sole external auditors since 2001, will audit ABB for fiscal year 2017 as approved at ABB's recent Annual General Meeting.

ABB is a provider of technology in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport and infrastructure globally.

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Publication:M2 EquityBites (EQB)
Date:May 22, 2017
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