Pacific Insight Electronics Corp. Appoints PwC as Auditor

VANCOUVER, May 4, 2016 /PRNewswire/ - Pacific Insight Electronics Corp. ("Pacific Insight") (TSX: PIH), a leading global electronics and full service solutions provider to the transportation industry, today announced the appointment of PricewaterhouseCoopers LLP ("PwC") as its auditors, replacing Davidson & Company LLP ("Davidson"). 

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The appointment of PwC comes at a time when Pacific Insight is experiencing continued growth of its global operations. "With offices in 157 countries, PwC has the reach and expertise to serve as our independent accounting firm," said Jonathan Fogg, Pacific Insight's Chief Financial Officer. "We will benefit from their industry experience as we continue to grow and implement global corporate governance best practices. On behalf of the board and executive team, I would like to thank Davidson & Company for their years of service and for supporting Pacific Insight's success to date."

Following the Audit Committee's recommendation, the Company's Board of Directors approved the appointment of PwC and accepted the resignation of Davidson. Davidson resigned as auditors at the Company's request. The Company reports that there have been no reservations in the report of Davidson for the audit of the most recently completed fiscal period and prior to the appointment of PwC, and there were no reportable events.

In accordance with regulatory requirements, the Company has filed a Notice of Change of Auditor together with a response letter from PwC, the successor auditors, confirming their agreement with the information provided in the Notice. The Company filed a response letter from Davidson, the former auditors, confirming their agreement with the information provided in the Notice.

About Pacific Insight

Pacific Insight Electronics Corp (TSX: PIH) is a global solutions provider offering design, development, manufacturing and delivery of electronic products and full service solutions to the automotive and commercial vehicle markets. We provide OEMs as well as Tier 1 and Tier 2 customers with a range of cost competitive products including LED lighting systems, electronic control modules and wire harnesses. Visit our new website at pacificinsight.com

SOURCE Pacific Insight Electronics Corp.