Capital Appreciation Limited has announced a change in its external auditor. The new auditor will be Deloitte & Touche, with Andrew Kilpatrick as the designated audit partner. This decision follows a comprehensive tender process.
Annual General Meeting Approval
The proposed appointment of Deloitte & Touche will be presented to shareholders for approval. The approval will take place at the Annual General Meeting (AGM) scheduled for Wednesday, 4 September 2024. If shareholders approve, Deloitte & Touche will officially take over from the date of the AGM.
Audit Firm Rotation
The change in external auditors is due to the mandatory 10-year audit firm rotation. Ernst & Young Inc. (EY) has served as Capital Appreciation’s external auditor for a decade. EY’s term will end at the conclusion of the 2024 AGM.
Board and Committee Statements
The Board and the Audit Committee expressed their gratitude to EY for their excellent services over the past ten years. They also look forward to a fruitful partnership with Deloitte & Touche.
Key Information
- Company: Capital Appreciation Limited
- New Auditor: Deloitte & Touche
- Designated Audit Partner: Andrew Kilpatrick
- Outgoing Auditor: Ernst & Young Inc. (EY)
- Reason for Change: 10-year audit firm rotation
- AGM Date: 4 September 2024
Conclusion
Capital Appreciation Limited’s decision to appoint Deloitte & Touche as the new external auditor marks a significant change. This move aligns with the mandatory audit firm rotation requirement. The company thanks EY for their dedicated service and looks forward to a successful collaboration with Deloitte & Touche. Shareholder approval at the AGM will finalize this transition, ensuring compliance with regulatory standards and enhancing the company’s audit processes.
