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’.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars