Originally posted by Moose423956
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Reply to: Question about financial impropriety
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Previously on "Question about financial impropriety"
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Originally posted by Moose423956 View PostIf a company makes mistakes in their accounts for several years (whether deliberately or not) such that audited accounts for previous years need to be resubmitted, and net assets are overstated to the tune of several million, what are the likely outcomes:
1 for the company as a whole?
2 for the directors?
https://www.theguardian.com/business...counting-court
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Originally posted by Moose423956 View PostIf a company makes mistakes in their accounts for several years (whether deliberately or not) such that audited accounts for previous years need to be resubmitted, and net assets are overstated to the tune of several million, what are the likely outcomes:
1 for the company as a whole?
2 for the directors?
I know of this case which seems similar and nobody got fingered...
Crisis at Semple Cochrane (From HeraldScotland)
I suspect there may have been funny handshakes going on though.
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Originally posted by Fronttoback View PostA mate of mine worked on a system that he realised had calculated it's profits wrong from day 0 until the day his new system went in.
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Originally posted by Moose423956 View PostIf a company makes mistakes in their accounts for several years (whether deliberately or not) such that audited accounts for previous years need to be resubmitted, and net assets are overstated to the tune of several million, what are the likely outcomes:
1 for the company as a whole?
2 for the directors?
This must happen all the time. Especially in your pension pots!! Those systems are full of bugs. Don't believe the numbers you read on your pension statement.
So maybe they won't resubmit anything. But if there were many genuine mistakes over several years, then you surely would not be consistently over stated, sometimes you'd be under- that's fishy.
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Originally posted by Moose423956 View PostIf a company makes mistakes in their accounts for several years (whether deliberately or not) such that audited accounts for previous years need to be resubmitted, and net assets are overstated to the tune of several million, what are the likely outcomes:
1 for the company as a whole?
2 for the directors?
2. Possibly barred from directorship, although extremely unlikely. Possibly anger at the AGM.
Caveat to above, the the "company" is the EU, then promotions and sinecures to all involved. A personalised set of solid gold keys to the first class toilet on the Gravy Train.
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Question about financial impropriety
If a company makes mistakes in their accounts for several years (whether deliberately or not) such that audited accounts for previous years need to be resubmitted, and net assets are overstated to the tune of several million, what are the likely outcomes:
1 for the company as a whole?
2 for the directors?Last edited by Moose423956; 9 November 2016, 13:51.Tags: None
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