WSP Holdings Board Approves Change of Independent Auditor
WSP Holdings Limited (NYSE: WH) announced today that its board of directors has approved the change of its independent auditor for the year ending December 31, 2011 from Deloitte Touche Tohmatsu CPA Ltd. to MaloneBailey LLP.
Deloitte audited the Company's financial statements for each of the previous five years. The change was driven by fee considerations as part of the Company's recent cost reduction measures and approved by the Company's audit committee and board of directors. The change in independent auditor is subject to approval by the Company's shareholders at its next annual general meeting of shareholders. MaloneBailey is expected to be working with Deloitte to ensure a seamless transition.
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