Joey Jo Jo Junior Shabadoo
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Posts posted by Joey Jo Jo Junior Shabadoo
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But there is a chance they're refused to sign off said accounts, no?
No, the group accounts being signed off means the subsidiary accounts have, in effect, been signed off. Plc accounts don't work on an individual subsidiary basis but look at all the related companies as a whole.
Let's not forget that it doesn't mean they aren't f**ked, just that the analysis I initially commented on was miles out.
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I have some EBT's I'd like to implement, care to help ?
I'm an accountant, not a porn star.
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I have one mate who is an accountant and a cousin .. moved to Bahamas who has done auditing on firms ... I can easily ask them and get back to you. If you're a CA .. then just fezz up and save me the trouble ... my cousin is a *** btw.
Guilty as charged.
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They are not legally obliged to sign off on accounts that have been made exempt. Your statement makes the 'clause' worthless. If you can show me where the auditors are legally obliged to audit exempt accounts .. please feel free.
All you are doing is stating something contradictory to evidence provided.
Sorry but you provided a link that proves me right. The exempt company can only be exempt if it has already been included as part if the group. Don't believe me all you like, but I'm not on the wind up. There is not a chance in hell TRFC hasn't been audited. It's against the law, the rules and the spirit of auditing not to.
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Remember this
An audit exemption with parent guaranteeing it's liabilities is worthless if that audit has to take place ... that's why it's 'exempt' from an audit and the guarantee exists.
All they have to do is complete the necessary paperwork and submit the relevant documents as described here. They have fulfilled their obligations and it will be to the satisfaction of the auditors as they have complied with the necessary regulations ... That is all that they are required to do.
No. Absolutely wrong. You are suggesting that a massive audit firm has signed off accounts that it hasn't audited. Remember the audited accounts are not the holding company's accounts. They are the group accounts. Which include all the subsidiaries.
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I covered that point ,, have you not read it or just ignored it?
For the avoidance of doubt
- Subsidiary companies included in their parent’s consolidated accounts will be eligible for an audit exemption, if accompanied by a statutory guarantee from their parent company covering all of their outstanding liabilities
I think you misunderstand what you have quoted. The subsidiary may be exempt, but the group still needs audited. The subsidiary gets audited as part if the group but doesn't need audited itself as this would be wholly unnecessary. The group audit needs to include the subsidiary. That's the rules.
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The possibility exists that Deloitte now need to see, audit and sign off on those very accounts.
My point about the group accounts is that it would be impossible to sign off accounts without taking into account all of the subsidiaries. TRFC will most definitely have been audited and signed off as they would be a huge part of the group accounts.
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Or are you telling us that any company registered as a subsidiary of a group does not have to submit it's returns to Companies House?
No, they certainly do have to submit a return.
Is the answer simply accounts have not been required to filed until now, Deloitte signed off on these accounts when publishing RIFC accounts last time and Rangers Ltd just haven't bothered filing them? Is that your position or is it something else?
That would be my guess. Corporate Governance hasn't been their strongpoint, has it?
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ETA I see Bing(1) AND Bing(2) are watching. No details if you mouse over the name. What IS that?
Something to do with the Bing Search Engine trawling the site. Allegedly.
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Who owns the shares in the Private Ltd Co. ? I can't remember if it's been detailed.
I'm fairly sure it is 100% owned by Rangers International.
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And this ...
You mistake the holding company for the trading company, Deloitte has only signed off the holding company accounts and because of its assets, they had no issue with going concern.
No accounts have yet been filed for the trading company – The Rangers Football Club Ltd – though they are due to be filed on 28 February.
That is the whole point, if what is being reported is true, Deloitte will not sign off those accounts since there is a going concern issue.
I think this guy could do with some accountancy classes. If he realised that the 'holding company' accounts are actually 'Group' accounts and ergo are the 'trading company' accounts then he could have saved a whole lot of time and effort. Deloitte would not be signing off Group Accounts if there was a Going Concern issue within the part of the business where 95% of the transactions go on.
He keeps going on about 'filing' accounts. I'm interested to know what he is talking about. Does he mean with the AIM or with Companies House?
I find it quite amusing how he has seperated the 'club' (TRFC) and the 'company' (RIPLC) in order to arrive at his conclusion.
[*RIPLC*
If that is a new one I am taking full credit.]0 -
A Motherwell fan having a go at us for struggling with part time teams.
lolWe lost to a pish poor 3rd Division team in the League Cup last year too. Upsets happen.
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Why didn't he invest before the AGM .. what's changed that he is suddenly going to invest now?
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Does he actually say he's going to invest? The Daily Mail quote says he will be 'involved' in another share issue. That could mean practically anything. Vice President of the Dog Whistle Department would be my guess.
No.
Junior Vice President.
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But with Rangers' first team wage budget just 30 per cent of turnover
With carefully worded doublespeak like this, what could there possibly be to worry about?
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1. How much could they actually sell the bricks and mortar for, and to who?
Ticketus.
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I'm desperate to know how the tea ladies fit into all this.
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I mean it costs 10 dollars to make an iphone and i've paid £120 for a bit of gorilla glass.
But it's made with real bits of gorilla, so you know it's good.
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So who wasn't looking forward to the second round then?
There's only one word for this: Magic darts!
Helped by the fact I took a wee nibble on Huybrechts at 6/1.
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If Bell doesn't get a quick 350 it is all over.
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Gone. F you see caid.
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Agreed. 3rd test match though I think? Played Zimbabwe a couple of years ago?
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I think Carbarry's innings is all important. Australia know they had him this morning and didn't refer. If he gets a big score and turns the test then it may well change the series.
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Brian Moore is the only commentator that comes close IMO.
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If that is a new one I am taking full credit.]
Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted
Exactly. I have far too many ethics to be an accountant.
And a massive cock.