PracticeAuditOlympus defends auditor swap

Olympus defends auditor swap

Olympus states that swapping auditor from KPMG to Ernst & Young was nothing to do with acquisitions

OLYMPUS HAS defended the change of auditors which took place after its acquisition of British business Gyrus.

A number of Olympus acquisitions have come under the spotlight after its chief executive left following his questioning of hundreds of millions of pounds in payments made during the spree.

Olympus said its contract with auditor KPMG had come to an end in 2009, and due to this it also swapped auditors to Ernst & Young across its subsidiaries.

It claimed that both the group had received an unqualified audit opinion for the March 2009 year end.

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