Business
Nortel Selects KPMG LLP as Independent Auditor
Nortel Selects KPMG LLP as Independent Auditor.
About this update from Newterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nAnother Step in Building World-Class Corporate Governance Practice\n\n\nTORONTO, Dec. 4 /CNW/ - Nortel(x) (NYSE/TSX: NT) announced today that its\nBoard of Directors has selected KPMG LLP as the Company's independent auditor\ncommencing with fiscal year 2007. This selection concludes a thorough\nevaluation which the Company conducted as part of its corporate renewal\nprocess.\n\n\n\"Nortel is committed to building a great company founded on world-class\ncorporate governance. As such, we conducted a rigorous selection process in\nsearch of an independent auditor with the optimal skills mix to match our\ncurrent business requirements,\" said Peter Currie, executive vice president\nand chief financial officer, Nortel. \"We found that KPMG has the expertise to\nhelp us cement a leading-edge corporate governance practice.\"\n\n\nThe appointment of KPMG as independent auditor is subject to the approval\nof the Company's shareholders at its next annual shareholder meeting.\n\n\nDeloitte & Touche LLP is the Company's current independent auditor. The\nintended change in independent auditor does not result from any disagreement\nor dissatisfaction between Nortel and Deloitte.\n\n\n\"Nortel has been pleased with the service of Deloitte & Touche and, in\nparticular, with the close collaboration provided in recent years. Deloitte\nhelped Nortel overcome significant challenges to ensure that our financial\nreporting is accurate and up-to-date. We thank them for their service and look\nforward to continued work with them in other capacities going forward,\" said\nCurrie.\n\n\nKPMG was also selected as Nortel Networks Limited's independent auditor\ncommencing with fiscal 2007.\n\n\nAbout Nortel\n\n\nNortel is a recognized leader in delivering communications capabilities\nthat enhance the human experience, ignite and power global commerce, and\nsecure and protect the world's most critical information. Our next-generation\ntechnologies, for both service providers and enterprises, span access and core\nnetworks, support multimedia and business-critical applications, and help\neliminate today's barriers to efficiency, speed and performance by simplifying\nnetworks and connecting people with information. Nortel does business in more\nthan 150 countries. For more information, visit Nortel on the Web at\nwww.nortel.com. For the latest ...