I am certain that discussions with KPMG started much earlier than the notice (early 2016). So this auditor change notice in June is not unusual at all. Tenders would have been put to all the Big 4 professional services firms, and KPMG selected based on a superior offering (price, credibility, experience, efficiency, ease of transition etc) .
Your point about this being distraction for management is incorrect. Having been on the team of many winning Big 4 audit tenders, you will only win an audit tender in the Big 4 if you can deliver audit efficiency savings (e.g. ease of transition, more man power, better sampling, less queries/information asked due to expertise/experience in sector, shorter audit timeframe as inexperienced auditors can take many months etc) whilst providing greater or equal levels of assurance.
It's 100% incorrect that the board would select an auditor that creates more work or distraction for the finance teams.
Otherwise, i agree with everything else said
I am certain that discussions with KPMG started much earlier...
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