Yingli Solar announced that its Board of Directors has appointed PricewaterhouseCoopers Zhong Tian LLP (PwC) as the company's independent auditors. PwC will replace KPMG as the independent auditors for Yingli Solar with immediate effect. The Company is working closely with its prior audit firm, KPMG, and PwC to ensure a seamless transition.
The appointment of PwC was made after careful consideration and extensive evaluation process by the Board of Directors, the Audit Committee and management of the Company and approved by the Board of Directors and the Audit Committee of the Company. During the two fiscal years ended December 31, 2012 and 2013, and the subsequent interim period through June 3, 2014, there were no (1) disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to make references in connection with their opinion to the subject matter of the disagreement, or (2) reportable events. The audit reports of KPMG on the Company's consolidated financial statements for the fiscal years ended December 31, 2012 and 2013 did not contain any adverse opinion or disclaimer of opinion nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
"We are grateful for KPMG's quality service of their experienced and dedicated team over the past several years as the Company's external auditors," said Mr. Yiyu Wang, Chief Financial Officer of Yingli Green Energy. "We selected PwC because of its expertise in high technology issues, strong international presence and excellent reputation."