Alliance Pharma Names New Auditor After KPMG Resigns Over Corporate Concerns
08 August 2022 - 9:48AM
Dow Jones News
By Joe Hoppe
Alliance Pharma PLC said Monday that it has appointed Deloitte
LLP as its auditor for 2022, after KPMG LLP--its auditor for six
years--stepped down over corporate-governance concerns.
The AIM-listed healthcare group said KPMG didn't participate in
the tender process.
Alliance said it understands KPMG's resignation relates to the
preparation of financial statements for 2021, and more specifically
the accounting treatment of the proposed 7.9 million pound ($9.5
million) fine from U.K. market regulator Competition and Markets
Authority.
Alliance said it has provided in full for the proposed
fine--which is related to an arrangement in the supply of
antinausea tablets to the National Health Service--despite
continuing to believe it has strong grounds to successfully
appeal.
The company further said it strongly believes the
corporate-governance process it followed for its 2021 statements
was "robust, challenging and appropriate."
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
August 08, 2022 03:33 ET (07:33 GMT)
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