Listed outsourcer swaps RSM Tenon for KPMG as auditor
Outsourcing business recruits Big Four firm to ready itself for full stock exchange listing
LISTED outsourcing business Quindell Portfolio has announced KPMG as its new auditor.
The consulting and technology outsourcing business said it had appointed the Big Four firm “as a further step” in preparation for the group’s proposed full listing.
It added that its previous auditor RSM Tenon Audit Limited, now known as Baker Tilly Audit Limited, had resigned from the company.
Rob Terry, Quindell founder and chairman, said: “As previously stated at the time of announcing our interim results, it remains the board’s intention for the group to move to the full list at the appropriate time, which is considered to be at the point of reporting the full year results for 2013 in March 2014.
“We are pleased to be able to announce today the next important step in our company’s plan to move to the full list with the appointment of KPMG as our auditor.
“KPMG have spent a considerable amount of time with our audit committee and finance teams, having visited a number of key sites and met with local management, as well as attending a number of our teach in events to ensure they were up to speed with the group, its business model, processes and policies prior to this appointment.”
Shares in Quindell Portfolio jumped 10% yesterday after the company announced a £150m three-year deal with Direct Line.
The company also announced it was due to record annual organic growth of £300m for the year.
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