British Airways has cut 30% from its audit bill after pulling out of the US
stock exchange and dropping Sarbanes-Oxley compliance.
BA’s annual report showed it paid Ernst & Young just over £3m compared
with more than £4.3m in the previous financial year.
Breakdowns showed the £1.27m BA paid out for ‘other services pursuant to
legislation’ in 2007 were primarily down to Sarbox work. The figure plummeted to
£57,000 for the year ended 31 March after its US withdrawal.
Shedding the US compliance millstone has left BA £10m better off. In a
statement the carrier said it had saved ‘some £10m in costs associated with our
registration and the related reporting obligations’.
Welcome to our live blog for Spring Budget 2017. Follow our Budget coverage throughout the day, including expert analysis and opinion on the key issues
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