Much improved results for 2009 have been marred by the news that the Engine Group’s previous year’s accounts understated the loss for that period by over £2 million.
Since last year the group has replaced its auditors BDO Stoy Hayward by KPMG and Peter Harris has been appointed finance director in place of Ian Day.
The biggest financial backers behind The Engine Group seem to be wanting to take more of a direct interest in its affairs as they are progressively taking up more seats on the group board.
The executive chairman of The Engine Group’s biggest financial backer joined the company’s board of directors last October shortly after it filed accounts showing it had lost £2 million in 2008 (see Engine Group lost £2 million in 2008). Engine also parted company with its auditors BDO last month.
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