KUALA LUMPUR: Pharmaniaga Bhd has announced the resignation of PricewaterhouseCoopers PLT (PwC) as its external auditor following a written notice served to the former on Sept 20.
In a bourse filing on Monday, Pharmaniaga said the resignation is on a voluntary basis, pursuant to Section 281 of the Companies Act 2016.
"The board noted that PwC has served as the external auditor for the company for the past 19 years, and the board agrees that the resignation and the subsequent appointment of new external auditors would allow a fresh perspective for the board and the company.
"The change is also intended to align with the group-wide approach to streamline its external auditors," it said.
Pharmaniaga said with the audit committee's recommendation, the board has approved the appointment of Ernst & Young (EY) as its new auditor.
This was decided after assessing EY's independence, capabilities, audit team and proposed audit fees for the financial year ending Dec 31, 2024.