Reply to: Black hole is spreading...

[eek]

To be fair it's not just them - audits of big companies ain't worth paper they are written on.

True but the name seems to appear surprisingly often at the moment.

[AtW]

Why does it always seem to be E&Y mentioned when things go tits up.

To be fair it's not just them - audits of big companies ain't worth paper they are written on.

[DodgyAgent]

That's probably true - I don't have any minions - only great collegues.

Spoken like an HR manager

[eek]

And they've been closed down

WorldSpreads to be closed over alleged fraud - FT.com

It is also likely to prompt criticism of Ernst & Young, WorldSpreads’ auditor, for signing off on annual accounts at a time when the alleged fraud was being carried out. E&Y said it could not comment for confidentiality reasons..

Nice to know they have identified a scape goat and the name of the company whose insurers will be picking up the tab.

Why does it always seem to be E&Y mentioned when things go tits up.

[Iron Condor]

Well, it's betting innint? If you can't afford to lose it then don't do it.

Fixed odds betting is regulated by the Gambling commission but spread bets are regulated by the FSA.

Even sports spread bets seem to be regulated by the FSA.

What Makes A Spread Bet?

[AtW]

Bet I have more minions than you do.

That's probably true - I don't have any minions - only great collegues.

[Sysman]

In the 19th century it was common for a bookie at the races to take your bet and then disappear with your winnings.

When I had a day at the races, one of the lasses in our group left it until the last minute to collect her winnings from an on course bookie, and he gave her a proper bollocking for not collecting earlier. Apparently the practice still exists.

Let's face it, would you travel x miles to pick up a tenner's worth of winnings if the bookie had gone home while you were still in the champagne tent?

[mos]

Holly crap
Not surprised there, for how long have they been operating as insolvent ?

[AtW]

The elation to frustation must be quite hard to take. Have you ever bought a lottery ticket?

I've tried twice - on very big jackpots, but online system did not like my name/address or something - perhaps providence did not want me to get rich quick and effortlessly through gambling

[BigTime]

Well, it's betting innint? If you can't afford to lose it then don't do it.

The elation to frustation must be quite hard to take. Have you ever bought a lottery ticket?

[sasguru]

Exactly - now go put the kettle on for your boss boyo.

Bet I have more minions than you do.

[AtW]

I'm not MD. HTH

Exactly - now go put the kettle on for your boss boyo.

[AtW]

In the 19th century it was common for a bookie at the races to take your bet and then disappear with your winnings.

Well, it's betting innint? If you can't afford to lose it then don't do it.

[BigTime]

No, what I don't understand why FSA should be protecting money of gamblers.

In the 19th century it was common for a bookie at the races to take your bet and then disappear with your winnings. Like a punter should only bet what they can afford to lose, the bookie should only take a bet he can cover. As they are regulated the scheme should cover any losses. Otherwise it would make it difficult for new entrants to participate in the market.

[sasguru]

The company I run is doing ok, why won't you share some details about your company? If you can't then don't comment on others.

I'm not MD.
HTH