craig 5,199 Posted September 4, 2015 Share Posted September 4, 2015 In terms of our relative size, probably not. We had a £25m turnover last season and are relatively small ourselves and therefore there isn't a requirement to have one of the big 4 per se. CD will be able to perform an audit as well as anyone else. My main concern is on the stock exchange side of things. Are they known by the market and will their size put off institutional investors? Do they know all the requirements and can they advise on that? Perhaps we have others to help us there, but I'd still expect the auditors to have a major say on things and that's where they may fall short. This is the big issue for me. I certainly hope that our Board have considered the "perceptional risk" of not having a big 4 as the audit firm when looking for funding. Having the big 4 doesn't guarantee you better audit practices (just ask former Arthur Andersen employees....) but from a capital markets perspective there is a significant amount of premium applied to the Big 4 due to their reputation. Nothing against CD though as they do have a very good reputation. As we are public we would need to rotate audit firm after 9 years, right BD or TB ? Have the EU not implemented firm rotation ? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,318 Posted September 4, 2015 Share Posted September 4, 2015 (edited) A) So essentially all we need now is a market that accepts us? B) Do we have any idea whether a new share issue will be successfully supported by the current investors / main shareholders? EDIT: Methinks some of the major minor shareholders had their voting rights withdrawn earlier this year. Should ease the way ahead of any new share issue vote. Edited September 4, 2015 by der Berliner 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted September 4, 2015 Share Posted September 4, 2015 we've got very few institutional investors at the moment anyway. It'll be us, the People, who'll buy the new share issue. Some of us got a lot of money but ordinary punters like you and me who will step up to the plate. I think we've learned our lesson. The last few years have been scary, quite frankly As Joni sang...."you don't know what you've got 'til it's gone"..........and we've stood on the precipice 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.