Aero Inventory, an aviation inventory management software designer, said its inventory value issue was broader than previously thought and its board was reviewing the positions of its senior executives, including the chief executive and finance director.

The company said a preliminary investigation of its ongoing accounting and inventory reconciliation involve not just the accounting value of the inventory but also in some instances the physical quantities.

"These reviews are ongoing and the consequences whilst being evaluated still remain uncertain," the company said in statement. Aero Inventory said its board was reviewing the positions of Chief Executive Rupert Lewin, Finance Director Hugh Bevan and Chief Operating Officer Martin Dodge.

Colin Trupp, who was previously business development director, has been appointed as acting chief executive, the company said.

Swag Mukerji has been appointed on an interim basis with responsibility for the company's financial operations, it added.

Aero Inventory said it was reviewing the accuracy of its recent financial reports provided to its banks and was still in discussions with the banks regarding access to credit and financial support.

Trading in the company's shares was suspended on October 26 after the company said it was investigating certain inventory valuations that might impact results and it would be in breach of a non-financial covenant with its lenders.