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CRH (LON:CRH) Public Limited Company (NYSE:CRH), a prominent player in the Construction Materials industry with a market capitalization of $68.6 billion and annual revenue of $35.6 billion, announced a change in its certifying accountant. According to InvestingPro data, the company maintains a "GREAT" financial health score, reflecting its strong market position. On Monday, the company’s Audit Committee approved the engagement of Deloitte & Touche LLP ("Deloitte U.S.") as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, and related interim periods. This change will be effective today.
This decision comes after CRH transferred its primary listing from the London Stock Exchange (LON:LSEG) to the New York Stock Exchange, where the stock currently trades at $102.52, near its 52-week high of $110.97. Deloitte Ireland LLP, the company’s previous independent registered public accounting firm for the year ended December 31, 2024, will continue to serve as the company’s statutory auditor under Irish law. For deeper insights into CRH’s financial performance and valuation metrics, InvestingPro subscribers have access to comprehensive research reports and detailed financial analysis.
CRH reported that the audit reports from Deloitte Ireland for the fiscal years 2024 and 2023 did not contain any adverse opinions or disclaimers, and were not qualified or modified in any significant way. There were no disagreements or reportable events between CRH and Deloitte Ireland during those periods that would have influenced their audit reports.
Deloitte U.S. has been involved in portions of the audit of the company’s consolidated financial statements for the past two years. During this time, other than during normal audit procedures, CRH did not consult with Deloitte U.S. regarding the application of accounting principles or any matters that could have resulted in a disagreement or reportable event.
In compliance with SEC regulations, CRH has provided Deloitte Ireland with the disclosures contained in the filing. Deloitte Ireland has issued a letter to the SEC, filed as Exhibit 16.1 in the current report, confirming their agreement with the statements made about their services.
The switch to Deloitte U.S. reflects CRH’s ongoing efforts to align its accounting and auditing processes with its primary market operations. With a P/E ratio of 20.25 and strong analyst consensus, the company continues to attract investor attention. The information regarding these changes is based on a press release statement. InvestingPro offers additional insights through its extensive collection of financial metrics and expert analysis, available in the comprehensive Pro Research Report.
In other recent news, CRH public limited company successfully issued $2.75 billion in guaranteed notes through its subsidiaries, CRH America Finance, Inc., and CRH SMW Finance DAC. The issuance includes $1.75 billion in notes from CRH America Finance, Inc. and $1 billion from CRH SMW Finance DAC, with varying interest rates and maturities. The proceeds from these offerings are intended for general corporate purposes, reflecting strategic financial management by CRH. Additionally, CRH disclosed transactions involving its management in compliance with SEC regulations, though specific details of these transactions were not publicly detailed. These disclosures are part of routine corporate transparency practices. Meanwhile, Crawford & Company announced the selection of KPMG LLP as its new auditor for the fiscal year ending December 31, 2025, replacing Ernst & Young LLP. This decision follows a competitive selection process and aligns with Crawford & Company’s corporate governance practices. The transition is pending KPMG’s standard evaluation procedures, with no prior consultations reported between Crawford & Company and KPMG during recent fiscal years.
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