News Column

SMITH&NEPHEW -Appointment of new auditors

July 14, 2014

ENP Newswire - 14 July 2014

Release date- 11072014 - Smith & Nephew (LSE: SN, NYSE: SNN), the global medical technology business, announces the appointment of KPMG LLP ('KPMG') as its auditor for the year ending 31 December 2015, subject to approval by shareholders at the 2015 Annual General Meeting.

The appointment follows a competitive tender process overseen by the Audit Committee, as announced in 2013 Annual Report & Accounts, published on 6 March 2014. The selection process included members of the Audit Committee as well as the Chairman of the Board, Roberto Quarta, Chief Executive Officer, Olivier Bohuon, Chief Financial Officer, Julie Brown and senior members of her finance management team.

Ernst & Young LLP ('EY'), Smith & Nephew's current auditor, will undertake the audit for the year ending 31 December 2014, having been reappointed at the 2014 Annual General Meeting.

Ian Barlow, Chairman of the Audit Committee, commented:

'EY or its predecessors have been our external auditor since we listed in 1937. We have regularly reviewed the provision of external audit services, and have always found their work to be of the utmost quality. On behalf of the Board, I would like to thank them for their service to Smith & Nephew.

'In-line with current corporate governance best practice, as previously announced, this was the right time to conduct a comprehensive, thorough and robust tender process. The Audit Committee and Board colleagues are pleased to appoint KPMG as our new auditor, subject to shareholder approval at the Annual General Meeting to be held in 2015. We look forward to their support as we maintain our independent oversight of the financial affairs of Smith & Nephew.'

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: ENP Newswire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters