Air Partner Replaces Deloitte with PwC as its New External Auditors
Private jet operator Air Partner plc has replaced Deloitte with PwC as the group’s new auditor. The FTSE 250 firm has decided to appoint PwC as its external auditors for the financial year ending January 31, 2019 after conducting a competitive tender process and as a result the firm has ended their seven year relationship with Deloitte. The decision will take immediate effect with PwC performing the FTSE 250 firm’s audit for the financial year ending January 31, 2019.
The big four firm Deloitte had been auditor to Air Partner plc for past seven years since 2011. For the financial year ended January 31, 2018, Deloitte earned total of £251,450 out of which £228,000 was received as audit fees and amount of £23,450 was received against non-audit services.
Earlier this year, the company was forced to delay the publishing of its annual audited financial statements following discovery of an estimated accounting error of £4m in April. It was later found that the £4m error related to overstatement of corporation tax which was resolved through an internal review.
At the time, the Rosenblatts and PwC Solicitors were called in by the company to conduct a review which helped the entity in discovering that some of the journals had been wrongly processed but the reviewing team of solicitors did not assign any blame and stated that it was an error.