Russia Infrastructure Equities Ltd. has changed auditors from KPMG to Ernst & Young, as revealed in an announcement to the Bermuda Stock Exchange Index (BSX) yesterday.

The company said that last month its management shareholder terminated the appointment of KPMG as its auditors and appointed Ernst and Young (E&Y) as its new auditors, starting next year.

The directors of Russia Infrastructure Equities believe that the appointment of E&Y is in the best interests of the company, with the expectations it will result in enhanced quality of services to the company, as well as a reduction in audit fees.