Audit Commission off RSM Tenon's radar

by Kevin Reed

More from this author

24 Feb 2011

  • Comments
andy raynor

AN OUTRIGHT acquisition of the Audit Commission has been ruled out by RSM Tenon chief executive Andy Raynor.

Speculation about the future of the commission has included its possible purchase by an accountancy firm involved in public sector work. The Financial Reporting Council suggested its sale could provide a boost to a smaller firm and open up audit competition.

Raynor said that that the biggest firms involved in local government services, including RSM Tenon, would struggle to deal with the conflict issues that would arise with an outright acquisition.

Instead, the more likely option for the commission would be a management buy-out.

"Having reviewed it, our view is that the Audit Commission is more of an opportunity for an MBO. That would probably be the best plan," said Raynor.

Some extra work might become available for RSM Tenon from the commission's sale, he added.

Yesterday the firm announced increased turnover and profits, but its share price fell back with Raynor blaming an increase in the firm's work in progress.


Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication




Conservatoire for Dance and Drama, London, Permanent, Part Time, £60,000 pro rata




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.