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ABB to Propose KPMG as External Auditor from 2018

Source: www.gulfoilandgas.com 5/22/2017, Location: Europe

ABB announced that its Board intends to appoint KPMG as its external auditor effective for the financial year 2018. This decision was taken following a year-long comprehensive external auditor tender process initiated in 2016 in line with international good governance practices. The proposal is subject to shareholder approval at ABB’s 2018 Annual General Meeting.

Ernst & Young has been ABB’s sole external auditors since 2001 and ABB’s Board would like to thank the firm and its auditors for their contribution and dedication over the years. Ernst & Young will audit ABB for fiscal year 2017 as approved at ABB’s recent Annual General Meeting.

ABB looks forward to a constructive and professional relationship with KPMG in the future.

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