Endava Provides Update on Audit Committee Investigation
Business Wire•28/10/2026•08:17 ET
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Key Highlights
- ➤Endava will restate fiscal 2026 results, with revenue adjustments equal to 2%–4% of prior fiscal 2025 revenue
- ➤Affected-period financial results should no longer be relied upon, and fiscal 2026 guidance is withdrawn
- ➤Investigation found incorrect accounting for certain customer-supplier agreements and separate revenue-recognition errors
- ➤Endava expects one or more material weaknesses in internal control over financial reporting
- ➤CEO John Cotterell will retire; Rob Machin becomes interim CEO effective November 2, 2026
- ➤Endava will miss its November 2, 2026 annual-report deadline and file a late-filing notification
Expert Statements
Trevor Smith and David Pattillo, Chairman of the Board and Chair of the Audit Committee, Endava
“The Board is committed to acting in the best interests of the Company and its shareholders as we work to complete the investigation and release our audited results, ensure the accuracy of our financial reporting and take appropriate remedial actions based on the final findings.”
Trevor Smith and David Pattillo, Chairman of the Board and Chair of the Audit Committee, Endava
“At the same time, Endava has a strong foundation built on deep industry expertise, longstanding client relationships and talented people around the world. We are confident that Rob brings the experience, leadership and perspective needed to guide Endava through this period and support the Company’s strategic priorities. Our management team remains focused on disciplined execution, delivering for our clients and advancing our AI-native strategy.”
Company to Restate Previously Reported Fiscal 2026 Financial Results; Expects Revenue Impact for the Year to Be Approximately 2% – 4% of the Company’s Prior Fiscal 2025 Revenue
Does Not Expect to Restate Any Prior Fiscal Years or Any Periods Within Those Years
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