Connecticut corporations’ revolving door of auditors continues to swing, with Bloomfield aeroparts maker, industrial-parts distributor Kaman Corp. showing KPMG LLP the exit, a regulatory filing shows.
KPMG’s term as Kaman’s auditor for at least the last 20 years ended Feb. 25, with the mandatory filing of Kaman’s 2012 annual report with federal securities regulators, according to Kaman’s latest 8-K filing with the Securities and Exchange Commission,
Kaman spokesman Eric Remington said the company was impressed with the size of PwC’s SEC client base in the Hartford market, as well as its aerospace and defense consulting expertise.
PricewaterhouseCoopers LLC will handle Kaman’s seasonal audit chores through Dec. 31, 2013, the filing said.
The board’s audit committee annually reviews its auditor’s performance and decides whether to retain them for the next audit season, or hire someone new, Remington said.
In late February, Waterbury regional lender Webster Financial Corp. – parent of Webster Bank — announced the dismissal of Ernst & Young as auditor, replacing it with KPMG.
