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Preliminary announcements – Our new independent report
Preliminary announcements – Our new independent report
KPMG offers independent report on audited prelims to provide earlier insight on our audits.
Preliminary announcements trigger investment decisions and share price movements, but the full story in the annual report (and independent auditor’s report) is often only made available to the market sometime later.
One of the themes we hear consistently through our engagement with institutional investors is that the value of the annual report – and the auditor’s report contained within it – is significantly diminished if it is published some time after the preliminary results announcement. While the annual report contains much that may be relevant, the stock market has already reacted and moved on.
To help provide more timely information about our audits to investors, we are now offering companies the option to request that KPMG provides an independent report on their prelim (if the prelim is based on audited financial statements). This option is available to companies with equity listed either on the Main Market or on AIM.
For further information please contact:
Michelle Hinchliffe, UK Chair of Audit, KPMG in the UK
Jonathan Holt, UK Head of Audit, KPMG in the UK
© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
