According to its founders, Jonathan Hayward and Richard Sheath, Independent Audit Limited has been set up ‘in response to the Enron and WorldCom scandals and will provide financial and corporate governance analysis – reporting solely to [company] boards and audit committees’.
‘Board accountability is under the spotlight as never before. The recent Higgs and Smith reports recommend giving audit committees significantly increased responsibilities for both financial governance and the oversight of external auditors. Yet in many cases they are currently ill equipped to meet this challenge,’ said founding partner Jonathan Hayward.
As its name suggests, the firm says it will ensure that ‘total independence from management is maintained’.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'