In a recent move, Argo Group International Holdings, Inc. (NYSE:ARGO), a player in the title insurance industry, has announced a change in its independent registered public accounting firm. As of June 20, 2024, the company's previous auditor, KPMG LLP, resigned and was replaced by Deloitte & Touche LLP for the fiscal year ending December 31, 2024.
The switch was confirmed by the Audit Committee of Argo Group's Board of Directors, following the acceptance of KPMG's resignation. KPMG's reports on Argo Group’s financial statements for the periods ending December 31, 2023, and December 31, 2022, did not contain any adverse opinions or modifications related to accounting principles or audit scope.
The company has stated that there were no disagreements or reportable events between Argo Group and KPMG that would have influenced KPMG's audit reports for the mentioned fiscal years. This information was also confirmed by KPMG in a letter addressed to the SEC, which is filed as Exhibit 16.1 with the SEC.
Deloitte's appointment as the new auditor was made after the Audit Committee and the Board approved the decision, following the completion of Deloitte’s standard client acceptance procedures. During the interim period through the notice date and in the preceding fiscal year, Argo Group did not consult Deloitte on any accounting principles or transactions that could have significantly impacted their financial statements.
The company's decision to change its auditor is disclosed in a Current Report on Form 8-K filed with the SEC. This move comes as Argo Group continues to navigate the financial landscape for the upcoming fiscal year, with Deloitte taking on the role of independent auditor to provide assurance on the company's financial reporting.
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