Cordlife announces KPMG's exit following FY2023 report

KPMG's retirement follows their "Disclaimer of Opinion" on the group's FY2023 financial statements.

Cordlife Group Limited has announced that KPMG LLP (KPMG) will retire as the company's external auditors and will not seek re-appointment at the upcoming annual general meeting for the financial year ended 31 December 2023 (FY2023 AGM).

Following the conclusion of the FY2023 AGM, KPMG will cease to be the auditor of the company.

In a statement issued on 25 April, Cordlife confirmed that KPMG has issued a "Disclaimer of Opinion" in its independent auditor's report dated 24 April concerning the consolidated financial statements of the group for FY2023.

Cordlife clarified that there were no disagreements with KPMG on accounting treatments in the past 12 months leading up to the announcement date.

“The Disclaimer of Opinion was not raised as a reason for KPMG's decision to retire and not seek re-appointment as auditor of the Company at the FY2023 AGM,” it added.

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The company also said that it is unaware of any other circumstances related to KPMG's decision that should be brought to the attention of shareholders.

Cordlife is now actively searching for a new auditor and will seek shareholder approval for the appointment soon.