FPT comes to terms with KPMG
On January 11, FPT and KPMG signed a “Contract on Auditing and Reporting 2007” and agreed to KPMG being the corporation’s auditing company for the fiscal years 2006 to 2009. This represents a significant turning point in FPT’s preparations for joining the foreign capital market.
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20/01/2007
Under the contract, between 2007 and 2009 FPT’s balance sheets supplied to shareholders will be audited by KPMG - one of the four largest auditing companies in the world (the Big Four). Vice Chairman of FPT’s Management Board, Mr Le Quang Tien, said: “With the auditing company’s global prestige, the transparency of FPT’s balance sheets from 2007 will please investors. As a general rule, balance sheets audited by any of the Big 4 are instantly accepted in foreign capital markets. Hence, the designation of an internationally-recognized auditing company has long formed part of FPT’s globalization scheme.”
The selection of KPMG as FPT’s auditing company is also a further step in the corporation’s plan for listing on a foreign stock exchange down the track.
