議決権行使助言会社が米GEの監査人であるKPMGの再任案に反対（CFOより）

GE Investors Urged to Dump KPMG as Auditor

議決権行使助言会社ISSが、米GEの株主に対し、GEの監査人を109年にもわたって務めてきたKPMGの再任に反対するよう呼びかけているという記事。SECによる調査にまで至った会計問題を理由にしています。

Proxy advisory firm Institutional Shareholder Services has urged General Electric shareholders to force a change in the company’s longtime auditor, questioning KPMG’s expertise amid an investigation of GE’s accounting practices.

GE has asked shareholders to endorse KPMG as its auditor for another year, which would extend a tenure that has so far lasted 109 years.

But in an unusual move, ISS said shareholders should vote against ratification at GE’s annual general meeting on April 25, citing accounting issues that have led to a U.S. Securities and Exchange Commission probe of the conglomerate.

“In light of the apparent extent of GE’s previously-undisclosed liabilities and accounting issues accompanied by unqualified reports by long-time auditor KPMG, a vote against this proposal is considered warranted,” ISS recommended Thursday in a report.

別の議決権行使助言会社、グラス・ルイスも、SECによる調査やあまりにも長い在任期間を理由に、KPMGの再任に反対しています。

ISS’s recommendation came two days after another proxy advisor, Glass Lewis, said GE shareholders should dump KPMG “in light of several ongoing concerns, including the recently announced SEC investigation into the company’s accounting practices, historic criticisms of the company’s relationship with KPMG, and KPMG’s extremely long tenure with the company.”

昨年GEはKPMGに142.9百万ドル（前の期と比べて59％増）もの報酬を支払っており、そのことも問題にしています。

Glass Lewis also questioned the $142.9 million in fees that GE paid to KPMG last year, a 59% increase over the previous year and GE’s highest such fees this century.

他方、会社側は、再任を求めている理由として、KPMGがGEの事業に精通しているため、コストが競争的であり、会社側の時間や資源を節約できているということをあげています。新しい監査人を迎えることによって、会社側に多大な時間が必要となり、財務報告や内部統制に集中できなくなるというようなことをいっています。

In its proxy statement, the company said KPMG’s familiarity with its business helps to keep costs competitive and saves management’s time and resources. Bringing on a new auditor would require “a significant time commitment that could distract from management’s focus on financial reporting and internal controls,” GE said.

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