AUDIT COMMISSION EXECUTIVE Gareth Davies has set up a new private audit firm, potentially to bid for public sector work after the commission breathes its last.
Davies established DA Partnership last October with himself as sole director, although This Is Monday suggests other public audit chiefs could be involved.
Experts have called on commission auditors to establish a mutual partnership to rival the Big Four; if all 900 were to join the mutual, the firm would be the fifth largest by audit income.
However, staff could also go to private outfit such as Davies’. He has confirmed that he will lead a new firm to bid for local government work, but would not say whether DA Partnership was the vehicle.
“The leaders of the Audit Commission’s audit practice confirm their intention to bid for the work on offer in the coming procurement on behalf of an employee-owned successor to the audit practice. More details on the proposed bid will be provided when the procurement process starts,” he said.
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