BDO replaces KPMG as Oxford Instruments auditor

Manufacturing and research company Oxford Instruments has announced that it set to replace current auditor KPMG with mid-tier firm BDO.

In an update Oxford instruments said it intends to appoint BDO as its auditor with effect from the financial year commencing 1 April 2020.

KPMG, which was reappointed as auditor in 2014 following a tender, will complete the audit of Oxford Instruments for the year ending 31 March 2020.

In the update Oxford Instruments said: “This follows a comprehensive and thorough competitive audit tender process overseen by the audit committee, which concluded with a recommendation to appoint BDO that was approved by the board.

“The current auditor KPMG will conclude their role, undertaking the audit of Oxford Instruments for the year ending 31 March 2020. The appointment of BDO will be recommended to Oxford Instruments’ shareholders for approval at the 2020 Annual General Meeting.”