North American Construction Group reappoints KPMG as independent auditor

Shareholders gave KPMG LLP a renewed audit mandate at North American Construction Group Ltd., backing the firm as independent auditor with 98.69 percent support at the company’s annual and special meeting in Acheson, Alberta.

The vote, announced May 21 after the May 20 meeting, sat inside a broader governance package that also covered executive pay and board process. Investors approved the non-binding say-on-pay resolution with 93.97 percent support and ratified Advance Notice By-law No. 3 with 68.58 percent support, after the board adopted it on March 19, 2026.

For KPMG audit teams, the result is more than a routine retainer. NACG describes itself as a heavy civil construction and mining services provider across Australia, Canada and the United States, a profile that brings cross-border complexity and the kind of asset-heavy, estimate-driven work that demands steady audit committee relationships. Clients in that space tend to put pressure on revenue recognition, equipment valuation, long-lived assets and controls around project execution, making continuity with the same audit firm commercially valuable.

The 98.69 percent vote suggests investors were comfortable with that relationship, and the 93.97 percent approval on compensation points to a board package that drew broad support. That matters inside KPMG because annual shareholder votes are part of how audit practices keep recurring work, preserve industry knowledge and reinforce their standing with clients that expect low-friction governance.

The say-on-pay result also marked a clear improvement from NACG’s 2025 vote, when the same advisory compensation measure received 79.59 percent support. In practical terms, that shift gives the board and its advisers a stronger mandate heading into the next proxy cycle, while the 68.58 percent ratification of the advance notice bylaw shows investors were less united on board process than they were on auditor reappointment.

NACG had told shareholders on March 19 that the meeting would be held May 20, with April 13 as the record date for voting. Its 2025 annual report, filed March 11, listed KPMG LLP (Edmonton) as auditor for the fiscal year ended Dec. 31, 2025, and the company reported 28,821,481 common shares outstanding in its 2025 Form 40-F filing.