Caxton & CTP Publishers Shake Up Auditing Landscape with Mazars Appointment

  • Regulatory Compliance: Caxton and CTP Publishers appoint Mazars as auditors, responding proactively to impending mandatory rotation, ensuring compliance.
  • Strategic Board Decision: The board's strategic vision drives the shift, emphasizing transparency, independence, and adherence to evolving governance standards.
  • Shareholder Confidence: Shareholders overwhelmingly support Mazars' appointment, underscoring confidence in the board's proactive governance stance for future success.
By Lethabo Ntsoane

In a strategic move aimed at compliance with upcoming regulatory changes, Caxton and CTP Publishers and Printers Limited announced a significant shift in their auditing landscape. At the Annual General Meeting held today, shareholders voted to appoint Mazars South Africa as the new auditors, replacing BDO South Africa Inc. This change comes as part of a tender process initiated by the company, aligning with the impending introduction of mandatory auditor rotation.

Background: Navigating Regulatory Changes

The decision to change auditors was not arbitrary but a response to the evolving regulatory landscape. The company’s resignation request to BDO South Africa Inc. was prompted by a proactive approach to the anticipated mandatory rotation of auditors, ensuring alignment with future regulatory requirements.

Table: Before and After – Auditors Transition

Previous AuditorNew Auditor
BDO South Africa Inc.Mazars South Africa

Board’s Strategic Decision

The board of Caxton and CTP Publishers and Printers Limited played a pivotal role in orchestrating this transition. The decision to bring in Mazars South Africa reflects the board’s commitment to robust governance practices and adherence to evolving regulatory standards.

Statement from the Board

In a statement released on December 5, 2023, the board affirmed their commitment to upholding the highest standards of corporate governance. The decision to appoint Mazars South Africa was described as a step towards ensuring transparency, independence, and compliance with forthcoming regulatory mandates.

Future Prospects: Mazars South Africa Takes the Helm

Mazars South Africa, a prominent player in the auditing and advisory sector, assumes the role of auditors for Caxton and CTP Publishers and Printers Limited. The company brings a wealth of experience and expertise, promising a seamless transition and an enhanced audit process.

Conclusion

The appointment of Mazars South Africa as auditors marks a significant chapter in the corporate journey of Caxton and CTP Publishers and Printers Limited. As the company gears up for a seamless transition, shareholders and stakeholders can anticipate continued adherence to the highest standards of corporate governance, positioning the company for sustained success in the dynamic business landscape.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo