AUDIT COMMISSION spin-off mutual DA Partnership has just one director and one member of staff, according to records filed at Companies House.
Commission head of audit Gareth Davies has been given leave to establish the employee-owned enterprise and is DA Partnership’s only director and shareholder.
The company was incorporated in October 2010, shortly after the Department for Communities and Local Government announced the public body was to be scrapped, for a reported annual saving of £50m.
DA Partnership recently revealed its financial backer is Mazars. Head of public interest markets David Herbinet called it “an exciting venture”, saying the mutual will “provide the best of both commercial and public sector auditing expertise and skill sets”.
Davies told Accountancy Age his role at the commission and industry experience made him “right for the job” of setting up the mutual.
“I feel strongly that this is a valuable opportunity and that the commission’s audit practice should not be broken up,” he added.