KPMG may have salvaged something from its failed 2009 audit-bid for IMI
Engineering, after it won the bid to manage the firm’s billion-pound pension
fund, this week.
The Big Four firm said it had been appointed investment advisor for the
pension fund of Birmingham–based IMI, nine months after it lost the audit of the
company to rival firm Ernst & Young.
Patrick McCoy, head of investment advisory at KPMG, said IMI was a
prestigious client for KPMG.
“We look forward to helping the trustee meet its objectives and control risk
within its investments and are pleased that our approach of identifying
solutions through proactive thinking and providing clear direction is resonating
with the market,” he said.
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