KPMG has resigned as Oceanteam's auditor after the Oslo-listed OSV company suspended its services earlier this month.

The Dutch shipping company said KPMG had informed it that it had withdrawn its services in Norway with immediate effect.

"Oceanteam disputes the validity of such resignation and is in process of filing a formal complaint," it added.

The row arose after the suspension on 14 November, which Oceanteam said was based on its "investigative findings regarding audit costs that were charged for work not performed."