Audit tender

RNS Number : 3362R

Law Debenture Corp PLC

20 September 2017

 

The Law Debenture Corporation p.l.c.

Fifth Floor

100 Wood Street

London

EC2V 7EX

Audit tender

The Audit Committee of The Law Debenture Corporation p.l.c. (the "Corporation") has initiated a competitive tender for the Corporation's audit for the year ending 31 December 2018 and beyond. The process will be conducted in accordance with the FRC's best practice guidelines and will be concluded in November 2017.

This announcement is being made because the Committee had previously stated, in its report to shareholders for the year ended 31 December 2016, that it expected to put the audit to tender in 2018, at which time the current auditors (BDO LLP) would have been in post 10 years.

The tender process is being conducted earlier than first indicated so that the forthcoming audit for the year ending 31 December 2017 can be conducted in a fully transparent and independent manner. It also means that shareholders will be able to appoint or reappoint an audit firm at the next AGM in the knowledge that the relevant firm would be able to accept the appointment with certainty.

20 September 2017

Contact Ian Bowden, Company Secretary, 020 7696 5285.

 

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