The founder of one of the world's largest budget airlines continues his refusal to sign off on company accounts
Accountancy Age, 19 Nov 2008
Sir Stelios Haji-Ioannou has criticised the accounting policies of the board of easyJet which has led to his refusal to sign off on company accounts.
Sir Stelios, who owns more than a third of the airline, outlined his justification for the stance in a formal statement attached to the final results, according to timesonline.com
He said accounting policies demonstrated by members of the board fail in reflecting 'current commercial realities and the macro-economic climate'.
Neil Mirchandani, partner at Lovells, confirmed the accounts have been approved by the board and PricewaterhouseCoopers, the airline's auditor.
'It is quite unusual. Under normal situations if a director is unhappy or unsatisfied with accounts they would resign rather than sign-off. Stelios is still a major shareholder in the company, so he is not simply going to give up,' he said.
Further Reading:
Comments
Have your say on this article