Press Releases: National
December 26, 2003
Kaiser Permanente selects KPMG as independent auditor
OAKLAND, Calif. – Kaiser Foundation Health Plan Inc., Kaiser Foundation Hospitals, and their subsidiaries announced today that the audit and compliance committee of the board of directors has selected KPMG LLP (KPMG) as its independent auditor for 2004. Deloitte & Touche LLP (Deloitte) will complete the 2003 audit.
Kaiser Permanente, a nonprofit health plan, has voluntarily adopted the provisions of the Sarbanes-Oxley Act of 2002, as applicable, which led to this decision. Kaiser Permanente is in the process of implementing KP HealthConnect, which is a fully integrated medical records system. As an integral part of that implementation, Kaiser Permanente expects to involve Deloitte with the integration of financial systems in 2004.
"One important step in complying with Sarbanes-Oxley is to appoint separate firms to do our audit and financial systems integration work," stated Robert Ridgley, chair of Kaiser Permanente's audit and compliance committee. "We believe we have selected an outstanding firm in KPMG, which offers Kaiser excellent insights and experience in the health care industry. By the same token, Deloitte has provided us with high-quality auditing and consulting services for many years. We felt that our board's decision to enhance our corporate governance by voluntarily following Sarbanes-Oxley is worth making the change. We expect to work closely with Deloitte as we implement KP HealthConnect, which is of critical importance to Kaiser's future success."
This decision to select KPMG was made after a comprehensive review and evaluation as part of the audit and compliance committee's stated desire to assess periodically the company's independent auditor consistent with sound corporate governance. KPMG LLP is the U.S. member firm of KPMG International, whose member firms have nearly 100,000 professionals, including 6,600 partners, in 150 countries. KPMG was the first public accounting firm to organize its resources along industry lines, and its Healthcare & Public Sector line of business represent one of its largest practices.
About Kaiser Permanente
Kaiser Permanente is committed to helping shape the future of health care. We are recognized as one of America’s leading health care providers and not-for-profit health plans. Founded in 1945, our mission is to provide high-quality, affordable health care services and to improve the health of our members and the communities we serve. We currently serve 8.6 million members in nine states and the District of Columbia. Care for members and patients is focused on their total health and guided by their personal physicians, specialists and team of caregivers. Our expert and caring medical teams are empowered and supported by industry-leading technology advances and tools for health promotion, disease prevention, state-of-the art care delivery and world-class chronic disease management. Kaiser Permanente is dedicated to care innovations, clinical research, health education and the support of community health. For more information, go to: www.kp.org/newscenter.
