Esken Limited Audit tender outcome and annual general meeting (7089Q)
30 Junio 2022 - 01:00AM
UK Regulatory
TIDMESKN
RNS Number : 7089Q
Esken Limited
30 June 2022
30 June 2022
ESKEN LIMITED
('Esken' or 'the Group')
Audit tender outcome and annual general meeting
Esken, the aviation and renewables group, announces the outcome
of its audit tender process.
During the year ended February 2022, the Company's Audit
Committee agreed to undertake a tender for the position of auditor
for the 2023 financial year and beyond. In the UK, as required by
the Statutory Auditors and Third Country Auditors Regulations 2016
(SATCAR), all Public Interest Entities (PIEs) have to conduct a
tender for audit services at least every 10 years and the February
2022 audit just concluded was the tenth provided by KPMG LLP.
A shortlist of firms to be asked to tender was agreed by the
Audit Committee. The Chief Financial Officer and Group Financial
Controller made contact with the shortlisted firms to enquire
whether they would be in a position to tender, along with a summary
of the timescales for certain milestones within the tender process.
Proposals were received from the incumbent auditor, KPMG LLP, and
Mazars LLP. The remaining shortlisted firms declined to tender on
grounds of capacity and staffing issues with their current audits
in the timeframe required.
A special Audit Committee meeting was convened where the tender
documents were discussed and debated, including proposals as to
fees. Subsequent to this meeting, the Audit Committee unanimously
recommended the appointment of Mazars LLP to the Board. The Board
agreed with that recommendation. The Audit Committee and the Board
noted that Mazars LLP met the required professional standards,
demonstrated a good understanding of the Group and its sectors,
showed objectivity, independence and integrity, had included a
competitive proposal on fees and would be well placed to serve the
needs of shareholders and other stakeholders by providing a high
quality service.
Further to the announcement made by the Company on 13(th) June
2022 with regard to its annual general meeting (AGM), the
appointment of Mazars LLP will be the subject of Resolution 8
proposed for consideration at the AGM to be held on 13 July
2022.
Esken Limited C/O Tulchan Communications
Charlie Geller, Communications Director
Tulchan Communications +44 207 353 4200
Olivia Peters / David Allchurch esken@tulchangroup.com
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