TUI Travel, has decided to say adieus to their auditors KPMG. The move comes soon after the company had to take a write-down of £117 million, forcing the company to restate their 2009 results. The company has decided to go ahead and replace the outgoing auditors with PricewaterhouseCoopers.
TUI maintains that they have good working relationship with KPMG. KPMG on the other hand said that relations with some of TUI’s directors had become more strained after the incident. Definitely in this case TUI is not letting bygones be bygones.