Alliance Pharma has appointed Big Four giant Deloitte as auditor after the pharmaceutical company’s go-to for six years KMPG resigned.
Deloitte will be the company’s auditor until the end of 2022 and will need to be approved by Alliance Pharma’s shareholders to be re-appointed for 2023. It was appointed following a tender process, which KPMG did not participate in.
KPMG has submitted a resignation letter to Alliance Pharma letter explaining its reasons for terminating its relationship with Alliance Pharma.
“The reason connected with our ceasing to hold office relate to concerns expressed to the Board with regard to the aspects of company’s approach to corporate governance relating to the preparation of the financial statements, which has ultimately resulted in a breakdown in our relationship,” KPMG said
Alliance Pharma’s Chair of the Audit and Risk Committee Richard Jones said, “the corporate governance process which was followed to finalise the 2021 financial statements was robust, challenging and appropriate.”
“We look forward to working with Deloitte as our new auditor.”
Sourced from City AM