RREEF Property Trust to Appoint New Auditor

The departure follows international rotation rules, with no disputes or audit concerns reported.

August 20, 2025

Auditor transition begins following regulatory changes

KPMG LLP is stepping away from its role as RREEF Property Trust’s independent auditor after completing the 2025 year-end audit. The move is driven by global audit rotation rules and firm-to-firm relationship guidelines—not by performance issues or board action.

KPMG informed the company on August 13, 2025, that it won’t stand for reappointment. The decision is tied to regulatory requirements that apply to KPMG and its network firms starting in 2026. As a result, RREEF will begin a formal process to find a new audit partner for the 2026 fiscal year.

Throughout their engagement, KPMG’s work has been clean and consistent. The firm did not flag any disagreements with management or reportable events during the 2023 and 2024 audits or through mid-August 2025. Their reports included no adverse opinions, no disclaimers, and no qualifications.

Next steps and regulatory compliance

As part of standard SEC procedure, RREEF shared its disclosure with KPMG and asked for a confirmation letter. That letter, dated August 19, has been filed as an exhibit.

Next steps are already underway. RREEF will evaluate proposals and name a new independent public accounting firm once the process is complete. That announcement will follow SEC disclosure rules.

This transition doesn’t change how RREEF reports its financials. It’s a timing-driven shift, shaped by outside regulations. The company is moving quickly to ensure continuity in its audit coverage for the year ahead.