| KPMG proposed as new independent auditor |
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10/02/2012 07:10 (104 Day 03:08 minutes ago) | |||||
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The FINANCIAL -- Statoil announced today that it will propose for the Corporate Assembly that it forwards to the General Meeting a recommendation to elect KPMG as the new independent group auditor commencing with accounting year 2012.
According to Statoil, the decision to forward this proposal for the Corporate Assembly was made after a comprehensive review and evaluation by Statoil of relevant candidates as part of work to periodically assess the independent auditor consistent with corporate governance standards.Ernst & Young is Statoil’s current independent auditor and has been the auditor for more than 20 years.
Under Norwegian law, it is the Corporate Assembly that has the mandate to propose the independent auditor for the General Meetings decision. Statoil’s Annual General Meeting will be held on 15 May.
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