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After Dark + Faith & Media + The Londoner | Paid Content + New West End Company | Paid Content + Books + Future Theatre Fund * Insider + Celebrity + Royals + Living + Fashion + Discover Extraordinary + Beauty * The Escapist + Travel + Wellness + Health & Fitness + Experience all-inclusive + Cyprus Holidays + Mountain Made + Movember - Brand Post | Paid Content + London Minds + Puzzles * The Reveller + Restaurants + Food + Drink + Pubs, Bars and Nightlife + Events and Things To Do + Trojan - Brand Post | Paid Content + ES Rewards * The Optimist + Step Up + Plug It In + Let Girls Learn + Vaccine for the World + The Sustainables + Sustainable Standard + The Air We Breathe + Cultural Oasis + SGI * Comment + Comment + The Londoner's Diary + Podcasts + The Reader * Tech + NFTs + Cyber Security + Uber + Breaking Boundaries + Huawei - Brand Post | Paid Content * ES Best + Home & Garden + Fashion + Beauty + Fitness + Tech + Kids + Books + Voucher Codes + ES Shop * ES Mag + Subscribe * Homes & Property + Property News + Buying & Mortgages + Renting + Celebrity homes + Where to live + Interiors + Luxury + Gardening Logout Follow us: BREAKING 8h Drill rappers get life for boy's 'needless' street killing near Euston 6h Familiar tale of away-day woe as Spurs lose key European battle 7h PS1.6m drug dealer who used Kia Sportage to supply ketamine jailed 6h Travellers face chaos as strike impacts Eurovision final 7h Two people rushed to hospital after car crashes into house in Harrow 8h King releases coronation portrait with heirs Business Revolut CFO quits for 'personal reasons' weeks after auditor BDO warning on accounts VIEW COMMENTS [Revolut] Revolut By Simon Hunt 12 May 2023 T he CFO of Revolut has quit the firm just weeks after its auditor said it was unable to independently verify three-quarters of the revenue in the company's 2021 accounts. Mikko Salovaara, who was first appointed CFO in April 2021, said he was leaving the London fintech for personal reasons. In a statement he said: "I am grateful for the opportunity to serve as group CFO at Revolut and remain confident in the firm's future successes." Revolut co-founder Nik Storonsky said: "I thank Mikko for his contribution and wish him well on his next steps." In March, the fintech's auditor, BDO, warned some information on its accounts may be "materially misstated" and said it could not provide assurance over PS477 million of the firm's revenue, adding that its "IT systems weren't designed in such a way that would allow for IT or business process controls to be effectively tested throughout the year." Read More * Brewery renames White Face beer after customers said it sounded 'a bit racist' * Tesco boss takes home PS4.4 million -- pays tax in Ireland * The fun of rolling out gourmet popcorn * BRANDPOST | PAID CONTENTWhy Anna Taylor is a rock star on the ascent A Revolut spokesperson said the bank's overall revenue figure "was not in question" and BDO's concerns were "remedied in 2021." Revolut's accounts were published two months after the statutory filing deadline. Salovaara told Reuters the delay was because "our accounting systems needed replacement." "There is not any doubt over the completeness of the balance sheet, which, in turn, logically means that total revenue is also correct," he said. It comes amid a challenging period for one of London's biggest tech firms as it wrestles with regulators to secure a UK banking license. In March, Salovaara said Revolut was "really near the very final stages" Currently, the company only has a license in Lithuania but could soon reach a scale that causes it to fall under the aegis of the European Central Bank. Last month, investor Schroders said it had written down its stake in the business by as much as 46%, wiping some $15 billion off its estimated value. The Canary Wharf-based firm, which offers debit cards and crypto services to its 27 million customers, posted revenues of PS636 million for the year to end-December 2021, while net profits topped PS26 million, turning around a loss of PS223 million the year before. Register for free to continue reading Sign up for exclusive newsletters, comment on stories, enter competitions and attend events. ALREADY HAVE AN ACCOUNT? 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