In our monthly roundup of developments in audit and governance, BDO picks up Mitie audit, Charity Commission warning on audited accounts, Deloitte negligence claim brought by DMX Technology
BDO wins Mitie audit ‘casual vacancy’ as Deloitte resigns after three decades
BDO has won the ‘casual vacancy’ as FTSE 250 outsourcer Mitie’s auditor after Deloitte resigned its position after 30 years.
At Mitie’s annual general meeting (AGM) in July, there was significant shareholder opposition to Deloitte’s reappointment and a competitive tender process was launched.
The AGM came after the company reported annual results in June covering the 12 months to the end of March 2017, which showed a pretax loss of £42.9m compared to a £107.6m profit the year before.
In the 2017 annual report, Mitie said it had held an accounting review during the year and ‘had found that improvements were required in the approach to risk management and internal audit and has made changes in both those areas’.
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