Standard Chartered PLC (the “Company”) today announces that, following the conclusion of the formal audit tender process led by the Company’s Audit Committee, the Board on a recommendation from the Audit Committee has approved the proposed appointment of Ernst & Young LLP (“EY”) as its auditor from the year ending 31 December 2020.
Following completion of the audit of the Company’s accounts for the financial year ending 31 December 2019 by KPMG LLP (“KPMG”), EY will be appointed as the Company’s auditor. Following finalisation of the terms of their engagement, the appointment of EY will be recommended to shareholders for approval at the 2020 Annual General Meeting.
The Company, EY and KPMG will commence transition planning to ensure a smooth and effective migration. Further disclosure on the tender process will be set out in the 2017 Annual Report and Accounts. There are no matters in connection with KPMG’s prospective retirement as auditor which need to be brought to the attention of shareholders.
In accordance with the relevant legislative requirements in the United Kingdom and Hong Kong the Board will receive from KPMG, upon their retirement as auditor, notification of any matters that need to be brought to the attention of creditors or shareholders of the Company.
For further information, please contact:
Global Head, Investor queries,
+44 (0)20 7885 8596
Head, Group Media Relations,
+44 (0)20 7885 2434