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09 Mar 2012
GABLE HOLDINGS and auditor Littlejohn have agreed to extend the rotation of its audit partner by to enable him to continue with his role for another two years.
Under the UK Auditing Practices Board Ethical Standards that govern UK auditors, no partner should act as the audit engagement partner, for a listed company, for more than a five year period.
Gable said the request was made as a result of the company expanding into new areas of business over the last two years, and undergoing significant changes in the structure of the group.
"Management believe that a change of personnel at this stage is not in the group's best interest and the quality of the audit function could be impacted," Gable said.
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