Ernst & Young reveals MTS IPTV capabilities
Michelle Clancy | 30-12-2013
Canadian telco and IPTV provider Manitoba Telecom Services (MTS) has announced that its audit committee has completed a comprehensive request-for-proposal (RFP) process for audit services and has selected Ernst & Young LLP.
The process was undertaken with the primary objectives of evaluating the expertise available to the company's board of directors and the market cost of the company's audit services under a competitive process.
The Audit Committee conducted the RFP process over the past five months, in which the senior leadership of Canada's four largest audit firms presented compelling proposals, making available significant telecom experience and local, national and global expertise, MTS said.
The company's existing auditors, Deloitte LLP, had been the Company's auditors and trusted advisors since 1987. Deloitte is expected to formally resign as auditor on completion of the audit and related filings for the company's financial year. Ernst & Young LLP is then expected be formally appointed as auditor to fill the resulting vacancy, and will also be proposed for appointment as auditor at the company's upcoming annual shareholders' meeting.
"This has been a very positive process leading to a highly successful outcome," said Pierre Blouin, CEO at MTS. "Our new relationship with Ernst & Young LLP is expected to benefit the board, management and the company's shareholders."