By Joe Hoppe
Alliance Pharma PLC said Monday that it has appointed Deloitte LLP as its auditor for 2022, after KPMG LLP--its auditor for six years--stepped down over corporate-governance concerns.
The AIM-listed healthcare group said KPMG didn't participate in the tender process.
Alliance said it understands KPMG's resignation relates to the preparation of financial statements for 2021, and more specifically the accounting treatment of the proposed 7.9 million pound ($9.5 million) fine from U.K. market regulator Competition and Markets Authority.
Alliance said it has provided in full for the proposed fine--which is related to an arrangement in the supply of antinausea tablets to the National Health Service--despite continuing to believe it has strong grounds to successfully appeal.
The company further said it strongly believes the corporate-governance process it followed for its 2021 statements was "robust, challenging and appropriate."
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(END) Dow Jones Newswires
August 08, 2022 03:33 ET (07:33 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.