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- Software company Altium Limited (ALU) has appointed KPMG as it auditor, replacing PricewaterhouseCoopers (PwC)
- The company says in addition to its two decade tenure as Altium’s auditor, PwC has become a valued provider of a range of non-audit services and will continue to do so
- The Altium board took PwC’s tenure and the company’s reliance on PwC for non-audit services when it decided to conduct a tender selection process
- Altium shares are up 2 per cent to trade at $42.95 at 3:43 AEDT
Software company Altium Limited (ALU) has appointed KPMG as it auditor, replacing PricewaterhouseCoopers (PwC).
The company said in addition to its two decade tenure as Altium’s auditor, PwC has become a valued provider of a range of non-audit services and will continue to do so.
The Altium board took PwC’s tenure and the company’s reliance on PwC for non-audit services when it decided to conduct a tender selection process.
The board said an audit rotation was in the best interest of the company and a tender selection process provided the best way to test prevailing market rates, ensuring appropriate costs are incurred.
A resolution will be tabled at Altium’s next annual general meeting in 2022 to confirm the appointment of KPMG.
The board thanked PwC for its past audit role and looks forward to continuing their relationship.
Altium shares are up 2 per cent to trade at $42.95 at 3:43 AEDT.
