Diploma PLC Result of Statutory Audit Tender (7615P)
September 05 2017 - 2:00AM
UK Regulatory
TIDMDPLM
RNS Number : 7615P
Diploma PLC
05 September 2017
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
5 September 2017
Diploma PLC ("the Company") to propose the appointment of
PricewaterhouseCoopers LLP ("PwC") as auditor
Diploma announces its intention to appoint
PricewaterhouseCoopers LLP as its auditor for the financial year
ending 30 September 2018, subject to shareholder approval at the
2018 AGM.
This follows a competitive tender process for its statutory
audit contract, overseen by the Company's Audit Committee,
resulting in a recommendation which was approved by the Company's
Board. Deloitte LLP ("Deloitte"), Diploma's current external
auditor, will continue in its role and, further to reappointment by
the Company's shareholders at the 2017 Annual General Meeting held
on 18 January 2017, will undertake the audit of the Group and
Company for the financial year ending 30 September 2017. The
appointment of PwC will be recommended to Diploma's shareholders
for approval at the 2018 Annual General Meeting on 17 January
2018.
Anne Thorburn, Chair of the Audit Committee during the tender
process, said:
"We would like to thank Deloitte for its significant
contribution to the Company and the work it has carried out to
provide assurance to the Company's Board and shareholders during
its time as the Company's auditor. The Committee has conducted
detailed diligence as part of a thorough audit tender process to
ensure that our principal criteria of capability, audit quality and
cultural fit were met."
For further information, please contact:
+44 (0)20 7549
Diploma PLC - 5700
Anthony Gallagher, Group Company
Secretary
NOTE TO EDITORS:
-- In Diploma's Annual Report and Accounts for the year ended 30
September 2016, the Company's Audit Committee disclosed that it had
commenced a pre-selection process with a number of audit firms in
preparation for an audit tender in 2017, with the intention to
recommend and have ready for appointment a new auditor at the 2018
AGM.
-- Annual appointment of external auditors by AGM is required
under UK law. UK and EU law now requires an auditor's maximum
period as auditor to a listed company to be 20 years, with a
competitive tender process required at least once every 10
years.
Further information on Diploma PLC can be found at
www.diplomaplc.com
LEI: 2138000G17VY8FGR19
This information is provided by RNS
The company news service from the London Stock Exchange
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