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AbCellera Biologics Inc. (NASDAQ:ABCL) announced a planned change in its independent registered public accounting firm, according to a press release statement based on a filing with the Securities and Exchange Commission.
The company’s Audit Committee approved the dismissal of KPMG LLP as its independent auditor, effective after KPMG completes the audit of AbCellera’s consolidated financial statements for the fiscal year ending December 31, 2025, and the filing of its annual report for that year. The company stated that the decision was not due to any disagreements with KPMG regarding accounting principles, financial statement disclosure, or audit procedures.
KPMG’s audit reports for the fiscal years ended December 31, 2024, and December 31, 2023, did not contain adverse opinions or disclaimers, and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During these periods, and through the date of the filing, there were no disagreements or reportable events between AbCellera and KPMG as defined by SEC regulations.
As part of a formal tender process conducted by the Audit Committee, several registered public accounting firms were considered. On Monday, the committee selected Ernst & Young LLP (EY) as AbCellera’s new independent auditor for the fiscal year ending December 31, 2026. The appointment is subject to EY’s standard client acceptance and independence procedures and the execution of an engagement letter. The engagement will become effective after KPMG’s audit for fiscal 2025 is complete and the annual report is filed.
AbCellera also noted that neither the company nor its representatives consulted with EY on any matters related to accounting principles or auditing procedures during the fiscal years 2023 and 2024, or the subsequent interim period.
A letter from KPMG regarding its agreement with the company’s disclosures was included as an exhibit in the SEC filing. AbCellera Biologics’ common shares are listed on The Nasdaq Stock Market LLC under the symbol ABCL.
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