LOM Holdings has announced it has changed auditors.In a filing with the Bermuda Stock Exchange, LOM said it hired Deloitte & Touche as its new auditors.LOM said at the financial services company’s Annual General Meeting on July 19, Deloitte & Touche were appointed auditors. Marcum LLP, the previous auditors, provided their resignation at the company’s request.“The Audit Committee of LOM’s board over the last year has reviewed our auditor and decided to recommend to the shareholders that LOM change it auditors from Marcum, who are located in New York, to Deloitte & Touche, who are based in Bermuda,” LOM president Scott Lines said.“This was recommended for reasons of efficiency, cost and the fact that Deloitte is one of the largest and most recognised auditing firms in the world.“The shareholders of LOM accepted the Audit Committee’s recommendation at the recent LOM annual general meeting and appointed Deloitte as the company’s auditor. There is a necessary procedure followed when a company’s auditor changes and the resignation of the old auditor is part of that procedure.”Additionally, at the meeting, LOM said new by-laws incorporating the amendments made to the Companies Act 1981 in December 2011 were adopted.In a further filing with the BSX, LOM said through a private sale this month it had purchased 400 of its own shares for cancellation at a price of $2.45 per share.LOM currently has 6,143,074 shares of Common Stock outstanding.“This stock repurchase demonstrates our confidence in the company and its future and represents our commitment to enhance value for shareholders,” said Malcolm Moseley, executive vice president and CFO of LOM.