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
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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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