Codan says it is satisfied with KPMG audit work since 2003
Codan Limited said it is satisfied with KPMG's work as auditor since 2003 and targets FY27 communications revenue growth at the upper end of 30% to 40%.
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what happened
Australian company Codan Limited said, according to Reuters, that it is satisfied with the performance of audit firm KPMG since 2003. The company said it has no concerns about the quality or independence of the audit. Its board views it as good practice to seek tenders for external audit services.
Codan also confirmed that recent concerns regarding KPMG over access to private, confidential information do not affect the company. Separately, it is targeting full-year FY27 revenue growth for its communications segment at the upper end of the 30% to 40% range.
why it matters
The news mainly concerns Codan shareholders and the audit market, so a broad market reaction is unlikely. The communications segment target matters to investors tracking the company's momentum. Removing audit questions reduces the risk of surprises in reporting and makes the financial picture more predictable.
market impact
Codan: no audit concerns and a communications growth target reduce company-specific risks for the shares
tags
instruments
sources
- Codan Is Satisfied With KPMG's Performance Since 2003 — Reuters, 20 October 2026 at 00:48 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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