FD appointment sees APC keep audit partner beyond five years
Advanced Power Components keeps on David Turner as lead audit partner beyond five year limit to ensure continuity, after new FD is appointed
Advanced Power Components has announced that it is to keep its lead audit
partner beyond the recommended five years, due to recently appointing a new FD.
David Turner from Reeves + Neylan has been the audit engagement partner at
APC for the last five years, the limit recommended by the Financial Reporting
Council before lead partners are rotated.
The directors at APC, however, have used the flexibility allowed by the five
year rule to allow Turner to hold the position for a further two years.
This was to ensure continuity in the audit processes continued following the
relatively recent appointment of Rob Smith as finance director.
Further reading:
Companies given nod to keep audit partners for seven
years