Chiene & Tait to leave listed audit market

by Kevin Reed

More from this author

24 Dec 2013

  • Comments

EDINBURGH-BASED firm Chiene & Tait has resigned as auditors, in what its client has described as the accountant's decision to pull out of the listed company audit market.

In a statement to the London Stock Exchange, investment business Value and Income Trust said that its auditors had resigned. "The firm has advised that it has taken the strategic decision to pull out of the audit of listed companies," said Value and Income Trust in the statement. It is now seeking a replacement auditor.

The audit market is becoming an increasingly difficult one for smaller firms, with audit thresholds likely to rise again - taking more clients out of the requirement for a statutory audit.

The firm is noted in the ARL Corporate Advisers Rankings Guide as having two small cap/fledgling listed audit clients, with a combined market cap of £363m.

Chiene & Tait celebrated its 125th anniversary in 2010. The eight-partner firm is ranked 80 in the Accountancy Age Top 50 +50 list, with £6m in revenues. Chiene & Tait was unavailable for comment.

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

  • Send
HM Revenue & Customs

Head Of Financial Control

HM Revenue & Customs, Telford, Full Time, Permanent/p>



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.