(Alliance News) - Petropavlovsk PLC on Monday said it has named MHA MacIntyre Hudson has its new auditors after PricewaterhouseCoopers decided against filling the role.
Back in August, the Russia-focused gold miner said PricewaterhouseCoopers had rejected its appointment as the company's auditor. PwC said its rejection was based on recent significant changes in the composition of Petropavlovsk's board.
This came after Deloitte decided not to seek reappointment as the Petropavlovsk's auditor earlier this year on concerns of the company's "internal controls and systems for financial reporting", the Financial Times reported.
Petropavlovsk noted that new auditors MHA MacIntyre Hudson are UK members of accounting firm Baker Tilly International.
The FTSE 250 firm added that it expects to publish its earnings for the six months to June 30 in the second half of October.
Shares in the company were 6.1% lower at 34.54 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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