3rd Jan 2019 08:39
LONDON (Alliance News) - Aston Martin Lagonda Global Holdings PLC is seeking a new auditor, Sky News reported on Wednesday.
According to Sky, the luxury car manufacturer has been "contacting accountancy firms about replacing KPMG in the coming months".
KMPG has been Aston Martin's auditor since 2007, Sky noted.
Aston Martin listed on the London Stock Exchange three months ago and, Sky noted, its intention to tender its audit contract was included in the prospectus for its initial public offering.
Sky reported that, according to "a person close to Aston Martin", KPMG "declined an invitation to re-pitch for the work".
This source also said that the auditor change had been instigated for corporate governance reasons and not due to dissatisfaction with KPMG.
https://news.sky.com/story/aston-martin-revs-up-audit-hunt-months-after-ipo-11596827
Shares in Aston Martin were down 0.7% at 1,176.00 pence on Thursday in London.
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