Sept 6 (Reuters) - Telit Communications Plc said on
Friday it appointed U.S. President Donald Trump's long-time
accounting firm Mazars LLP its new auditor after EY quit as the
internet of things company's accounting firm.
The AIM-listed technology company said EY submitted its
letter of resignation on Thursday, stating it did not
participate in a competitive tender process to be Telit's
auditor since Telit had indicated that it was expecting a fee
reduction.
"We had already determined that the current audit fee did
not provide us with an economic return that we consider
reasonable for the audit work we would need to perform. This is
the reason for our resignation," EY said as part of a letter
published by Telit.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Bernard Orr)
