Caledonia Investments swaps Deloitte for KPMG as auditor

KPMG has succeeded Deloitte as auditor of investment trust business Caledonia Investments.

Deloitte had been auditors since 2006, but the role was put out to tender on the recommendation of Caledonia’s audit committee.

A statement from Caledonia Investments said: “Following formal proposals and presentations from three audit firms, including Deloitte, KPMG was successful in this process.”

In a letter to shareholders explaining the change, Deloitte said: “The company put the audit out to tender and we were not successful in retaining it.”

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