Bank of Ireland Appoints KPMG as their New Auditor

Bank of Ireland recently announced its decision of appointing KPMG as its new auditor replacing PwC which held the position of external auditor to the banking group for past 27 years.

The decision of selecting KPMG as the new auditor of the bank was made following a competitive tender process which was overseen by Bank of Ireland’s audit committee. The decision of conducting a tender process for appointing the banking group’s new auditor was made in the context of the new rules introduced by the European Union with regards to auditor rotation. As per the new rule, which was first introduced in 2014, a listed company