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10 AUG 2022
Contact Energy advises that it has accepted the resignation of KPMG as external auditor of the company with effect from 15 August 2022. Ernst & Young (EY) will be appointed as the group’s new external auditor on the same day for the financial year commencing 1 July 2022.
KPMG has been Contact’s external auditor since 2005. The decision to change the auditor in no way reflects on the performance of KPMG. Rather we consider it is good governance practice for a company to change auditor from time to time and accordingly we have adopted a policy that the maximum tenure of any external audit firm is 15 years. Contact would like to thank KPMG for their service over the last 17 years.
EY’s appointment follows a formal request for proposal process that was overseen by Contact’s Board Audit & Risk Committee. We are looking forward to working with EY and the fresh insights it might bring.
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GM Corporate Finance
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For independent complaint or pricing advice, click here. UDL & Powerswitch can help.
To read our Residential Consumer Care policy on how we'll keep you safe and connected, click here.