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01 Aug 2011
AUDIT COMMISSION EXECUTIVE Gareth Davies has set up a new private audit firm, potentially to bid for public sector work after the commission breathes its last.
Davies established DA Partnership last October with himself as sole director, although This Is Monday suggests other public audit chiefs could be involved.
Further reading
Experts have called on commission auditors to establish a mutual partnership to rival the Big Four; if all 900 were to join the mutual, the firm would be the fifth largest by audit income.
However, staff could also go to private outfit such as Davies'. He has confirmed that he will lead a new firm to bid for local government work, but would not say whether DA Partnership was the vehicle.
"The leaders of the Audit Commission's audit practice confirm their intention to bid for the work on offer in the coming procurement on behalf of an employee-owned successor to the audit practice. More details on the proposed bid will be provided when the procurement process starts," he said.
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Visitor comments Add your comment
Not a clue
Not sure that whoever wrote this article has a clue what they're talking about. DA Partnership was set up by the Audit Commission not Gareth Davies. It is not and will not be 'his' firm and he will not be the sole director once it separates from the Audit Commission. It will be the mutual referred to not an alternative to the mutual.
Posted by: Ex auditor in exile, 02 Aug 2011 | 19:34
Regurgitating press releases
It is fairly clear from ALL the recent stories about the Audit Commission that Accountancy Age is just parroting the line it is given by DCLG without any thought or analysis - which is why stories like this get published.
If Accountancy Age was still a proper magazine it would be INVESTIGATING the implications of the changes in the Audit market brought about by the merger with the NAO - stop calling it an abolition - only the footsoldiers are losing their jobs, the generals have looked after themselves.
Posted by: Eleanor, 03 Aug 2011 | 11:34