KPMG resigns as IDH auditor over ‘control environment’ concerns

Published on June 10, 2021

The resignation follows concern over accounting firms over the robustness of the control environment at the company

Integrated Diagnostics Holdings (IDH), a consumer healthcare company, has revealed that KPMG will resign as auditor of the company when its present term of office expires.

The resignation follows concerns by the accounting firm over the “robustness of the control environment” at the company.

However, PwC has indicated its willingness to be appointed as the new auditor for the group, subject to the “satisfactory completion” of their acceptance procedures, which is expected to become effective upon agreement by shareholders on 30 June 2021.

A copy of KPMG’s statutory statement to the firm, said: “The circumstances connected with our ceasing to hold office relate to our concerns in relation to the robustness of the control environment at the Company.

“This matter led to difficulties in obtaining sufficient and appropriate audit evidence on a timely basis and, latterly, to a deterioration in our relationship with management.”

They added: “Such circumstances did not however affect our ability to issue an unqualified audit opinion, or otherwise to fulfil our professional obligations in respect of the audit of the financial statements for the year ended 31 December 2020.”

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