Both Anglo American and Kumba Iron Ore this week announced that after a formal tendering process, both companies would appoint PwC as external auditor, replacing the existing auditor Deloitte.
The appointment will take effect from 31 December 2020.
“There are no matters in connection with Deloitte’s prospective retirement as external auditor which need to be brought to the attention of shareholders. In accordance with the relevant legislative requirements in South Africa, the Board will receive from Deloitte, upon their retirement as external auditor, notification of any matters that need to be brought to the attention of creditors or shareholders of Kumba.”
A similarly worded statement was issued Anglo American, suggesting this is in preparation for the mandatory audit rotation requirement which comes into effect in 2023.
Kumba is majority owned by Anglo American, suggesting the change in auditor has been coordinated between the two companies.