Four auditors vied for lucrative Fonterra contract

Tue, 12 Nov 2019

Fonterra's chosen auditor, KPMG, was just one of four audit firms to throw its hat in the ring to put dairy cooperative's books under the microscope.Chief financial officer Mark Rivers told shareholders that they settled on KPMG after running a formal tender.“We considered four audit firms in the process, looked at all capabilities and, at the end, came to the selection of KPMG,” he said at last Thursday's annual meeting in Invercargill.The contract came up for grabs last year when the cooperative put out feelers and ultimately decided to end a...

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