‎Knowledge First Foundation and Knowledge First Financial announce change of auditor to KPMG LLP

Originally published on: September 8, 2022

Note: On February, 27, 2023, Knowledge First Financial Inc. and the Knowledge First Foundation became Embark Student Corp. and the Embark Student Foundation, respectively.

Knowledge First Financial Inc., Canada’s largest RESP Company, and the Knowledge First Foundation today announced that it has selected a new external auditor for its Flex First and Family Single Student Registered Education Savings Plans.

Effective September 6, 2022, KPMG LLP (“Successor Auditor”) has succeeded PricewaterhouseCoopers LLP (“Former Auditor”) as the organization’s external auditor. This decision was considered and approved by the Boards of Directors of Knowledge First Financial (“The Manager”) and the Knowledge First Foundation (“The Foundation”).

The Board of Directors thanks PricewaterhouseCoopers LLC for its auditing services and looks forward to working alongside KPMG LLP in the future.

There were no reservations in the Former Auditor’s reports for any financial statements in any period preceding the effective date of change, nor were there any “reportable events” between the two companies, as defined by National Instrument 51-102, Continuous Disclosure Obligations.

In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Board of Directors of the Manager and Foundation and filed on SEDAR.

About Knowledge First Financial

Knowledge First Financial Inc. is Canada’s largest registered education savings plan company. With over $6.0 billion in assets under management, the company is committed to empowering students by giving them the resources they need to financially and mentally succeed along their academic journeys. As a wholly owned subsidiary of the Knowledge First Foundation, a not-for-profit Canadian corporation, the company manages over 600,000 RESPs for customers, helping approximately 60,000 students through post-secondary studies each year. Since 1965, the company has paid out approximately $9.0 billion to subscribers and students through their plans.