Laurentian Board Replaces Long-Standing Auditors

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Laurentian University’s board of governors voted unanimously earlier this month to replace the university's long-standing auditors, KPMG, with the firm BDO, reported. The university continues to undergo restructuring under the Companies’ Creditors Arrangement Act (or CCAA) after declaring insolvency in the winter of 2021. The decision to replace KPMG as the university’s auditors was made at a June 2 special meeting of Laurentian’s board of governors. Although the decision was made in-camera, the June 2 motion passed by the board is included as part of the information package for the upcoming June 24 Laurentian board of governors meeting. The preamble for the motion, which was moved by board member Robert Brouillette and seconded by fellow board member Martin Bayer, said KPMG was appointed through a RFP process for a five-year period from April 2014 to April 2018. The appointment came with reappointment options for April 2019, April 2020 and April 2021. Read more.