Delisting from U.S. Markets Lowers Audit Costs for British Airways

Lora Bentley

British Airways delisted from the New York Stock Exchange last year. At the time, CNBC reported the company hoped the delisting would save approximately 10 million pounds, or $19.8 million per year.


According to an Accountancy Age piece published Thursday, the reports are in from year one, and British Airways has cut its audit costs by 30 percent. Last year, the company paid around 4.3 million pounds, or $8.5 million, in audit fees. This year, according to the annual report, the total came to only 3 million pounds, or $6 million.

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Jun 20, 2008 12:11 PM Brandon Dunlap Brandon Dunlap  says:
We are seeing a unique sort of backlash against audit and auditors now. Where previously, people just threw bodies at the problem, then they narrowed the scope, now they are just picking up their toys and going home. I think 2008 and 2009 will see an increase in similar activity as many firms have already cut their scope and controls down to the bone to gain advantages in 2006 and 2007. Unfortunately, as we mentioned in this piece ( and linked to a previous one, "audit inflation" continues as the big firms raise their per hour fees ahead of teh savings curve. Reply

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