Business
Appointment of New Auditors
Appointment of New Auditors.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 3543B Quadrise Fuels International PLC 30 January 2020 \n\n30 January 2020\n \n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI\", the \"Company\" and together with its subsidiaries the \"Group\")\n \nAppointment of New Auditors \n \nThe Board of Quadrise Fuels International plc (AIM: QFI) is pleased to announce that following a comprehensive audit tender process, the Board has approved the proposed appointment of BDO LLP (\"BDO\") as auditors to the Company for the financial year ended 30 June 2020. Shareholder approval to confirm the appointment of BDO for the financial year ended 30 June 2021 will be sought at the Company's 2020 Annual General Meeting.\n \nA formal tender process, managed by the Audit Committee, commenced in December 2019, as the Company's outgoing auditor, Crowe LLP (\"Crowe\") had been providing services for almost 10 years, with a rotation of audit partners after 5 years. A formal Request for Quotation (\"RFQ\") was provided to a total of four firms, including Crowe. Following positive meetings with, and the receipt of formal responses to the RFQ from all four firms, the process concluded successfully with the appointment of BDO. The process to manage the transition from Crowe will begin immediately and BDO will be responsible for the review of the unaudited interim results for the period ended 31 December 2019 which will be published in March 2020, as usual. \n \nAccordingly, Crowe has deposited with the Company a statement of the circumstances connected with its ceasing to hold office confirming that there are no matters that need to be brought to the attention of members or creditors of the Company for the purposes of Section 519 of the Companies Act 2006. \n \nMike Kirk, Executive Chairman of QFI, said: \n \n\"We are delighted that we received such a positive response to the formal tender process and to see such a high level of interest and engagement from four leading auditors. Ultimately, we are delighted to have appointed BDO, who demonstrated their leading position as auditors to AIM companies and a particularly strong presence in the natural resources, oil refining and shipping sectors. We know that BDO will be able to get up to speed rapidly and that their strong global network will be imp...