BEIJING, May 15, 2013 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, has appointed China-based Ernst & Young Hua Ming LLP as its registered independent public accounting firm effective from May 14, 2013 to replace Ernst & Young LLP Canada.
On May 14, 2013, Ernst & Young LLP Canada notified the Company that it would not stand for re-election as the Company's registered independent public accounting firm.
Both of the Company's audit committee and the board of directors have approved the appointment of Ernst & Young Hua Ming LLP to replace Ernst & Young LLP Canada. Ernst & Young Hua Ming LLP has begun providing services and is working with the Company and Ernst & Young LLP Canada to ensure a seamless transition. The Company believes that the appointment of Ernst & Young Hua Ming LLP is beneficial because of the close proximity to the Company's headquarters as the firm is also based in Beijing, China.
During the years ended
December 31, 2012 and 2011, and through
May 14, 2013, there were no disagreements with Ernst & Young LLP Canada on any matter of accounting principles or practices, financial statement disclosure, or auditing scope, or procedures.
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