Rear Window

Corporate Travel’s Jamie Pherous has extraordinary fun with numbers

Releasing unaudited numbers based on unaudited numbers would be bad enough without getting them wrong.

Mark Di StefanoColumnist

Oct 26, 2025 – 3.35pm

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Corporate Travel Management is helmed by the irrepressible Jamie Pherous. It has a $2.35 billion market cap, sits firmly within the ASX 200 and since August has been suspended from trading. Weird enough, without it all turning into the market’s joke du jour.

See, the suspension was triggered by its new auditor, Deloitte, finding potential historical inaccuracies with its past finances audited by PwC. So Corporate Travel was yanked from the ASX, while a third audit firm, KPMG, was recruited to check whether Deloitte or PwC had it right.

Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent.