Revolution Beauty's co-founders have agreed to temporarily 'step away' from their roles while an inquiry into the group's accounts is conducted. Executive chairman Tim Allsworth and chief executive Adam Minto will remain directors of the beauty products seller but not be involved in any day-to-day management until the probe is completed. An examination was launched into the company's auditing practices three weeks ago following a number of 'serious concerns' raised by the accountancy firm BDO. No definitive timeline has been given for the probe, but Revolution stated in September that it might take several months before being finished. But since then, the firm has reported trade struggling amidst a worsening economic backdrop and challenges resulting from the loosening of lockdown restrictions.

Source: Daily Mail October 14, 2022 22:52 UTC