Yahoo's UK Auditors Have Resigned
Evening Standard reporter Oscar Williams-Grut spotted documents filed with Companies House that confirm the resignation.
A letter dated November 7 2014 from PwC to Yahoo says that there are no circumstances behind the resignation that should be brought to the attention of Yahoo's shareholders or creditors.Another document filed with Companies House shows that Yahoo also extended its accounting reporting period. The accounting reference period ending 31/12/2014 has now been extended so as to end on 30/06/2015. Subsequent periods will also end on the same day and month in future years.
It could be that PwC resigned because the company had an offer from a larger client that competes with Yahoo UK. Yahoo declined to comment on this story when contacted by Business Insider.
In Yahoo UK's most recently filed accounts with Companies House, for the year ended 31 December 2013, the company reported turnover of £27.7 million in turnover, up from £22.9 million the previous year. Operating profit rose 62% year on year to £2.4 million. The company's tax charge "on profit on ordinary activities" was £341,000 in the period.
In February last year, Yahoo switched its main European tax base from Switzerland to Ireland, which has a low corporation tax rate , Reuters reported.