SCPLC - Outcome of Audit Tender

RNS Number : 0974W

Standard Chartered PLC

09 November 2017

 

9 November 2017

STANDARD CHARTERED PLC

ANNOUNCES THE OUTCOME OF ITS AUDIT TENDER

Standard Chartered PLC (the "Company") today announces that, following the conclusion of the formal audit tender process led by the Company's Audit Committee, the Board on a recommendation from the Audit Committee has approved the proposed appointment of Ernst & Young LLP ("EY") as its auditor from the year ending 31 December 2020.

Following completion of the audit of the Company's accounts for the financial year ending 31 December 2019 by KPMG LLP ("KPMG"), EY will be appointed as the Company's auditor.  Following finalisation of the terms of their engagement, the appointment of EY will be recommended to shareholders for approval at the 2020 Annual General Meeting.

The Company, EY and KPMG will commence transition planning to ensure a smooth and effective migration.

Further disclosure on the tender process will be set out in the 2017 Annual Report and Accounts.

There are no matters in connection with KPMG's prospective retirement as auditor which need to be brought to the attention of shareholders.

In accordance with the relevant legislative requirements in the United Kingdom and Hong Kong the Board will receive from KPMG, upon their retirement as auditor, notification of any matters that need to be brought to the attention of creditors or shareholders of the Company.  

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For further information, please contact:

Julie Gibson - Media queries

[e-mail]                [phone]

Mark Stride - Investor Relations

[e-mail]                 [phone]

Notes to Editors

Standard Chartered

We are a leading international banking group, with around 86,000 employees and a 150-year history in some of the world's most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

For more information please visit www.sc.com. Explore our insights and comment on our blog, BeyondBorders. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

LEI:                  U4LOSYZ7YG4W3S5F2G91

Classification:    3.1. Additional regulated information required to be disclosed under the laws of a Member State

 

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