Jump to content

Recommended Posts

1 minute ago, Marro said:

Apologies, I was under the impression he owned the club.  He told everyone the accounts would be released shortly.  Why haven’t they........?

Obviously too hard to explain..

Link to post
Share on other sites
20 minutes ago, sherlyegg said:

What's chansiri got to do with releasing accounts?

He controls when they are submitted to companies House

  • Like 1

"The best poster on Owlstalk by far" - Kaven Walker

Link to post
Share on other sites
4 minutes ago, asteener1867 said:

Does he walk there?

 

He's booked a D- taxi 

 

:Chansiri:

  • Haha 2
Link to post
Share on other sites
7 hours ago, Lunny1968 said:

He has not stepped up in four seasons, you are deluded and clutching at straws if you hang your hat on him.

 

3 hours ago, @owlstalk said:



Wouldn't that also apply to Bannan, Hutch and Co?

 

12 minutes ago, sherlyegg said:

I was thinking they have to be signed off before he can submit...

And why the delay in the auditors signing off the accounts?  Why would DC say the accounts would be released soon if he knew there was an issue?  Perhaps we can’t get them signed off because we are insolvent and no guarantee that the club will be funded in the future.

  • Like 4
Link to post
Share on other sites

I think it's potentially a good thing we're not releasing the accounts.

 

I suspect that the accounts will show really healthy operational profits and that will alert our rivals when we're buying their star players who'll try and squeeze a few more ££ out of us.

 

Keep them hidden I say.

  • Haha 6
Link to post
Share on other sites
1 hour ago, sherlyegg said:

What's chansiri got to do with releasing accounts?

It’s not complicated. Accounts are the responsibility of the Directors of a company. He is the only Director at SWFC Ltd so he has sole responsibility.

 

It’s always better to get on and get accounts signed because going concern always carries an element of uncertainty but being lazy he no doubt thought the COVID extension was a clever wheeze to delay things. 12 months down the line with no crowds and reduced income it doesn’t look so clever. 

Link to post
Share on other sites
53 minutes ago, sherlyegg said:

I was thinking they have to be signed off before he can submit...

By him as well


"The best poster on Owlstalk by far" - Kaven Walker

Link to post
Share on other sites

For those that are interested, go on the FRC website and wonder why the auditors may be having difficulty signing off the accounts.  The first few paragraphs on the website as to the auditors responsibilities are quite interesting/telling.  Extracts below for those that are interested:

 

“The auditor’s objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes the auditor’s opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards on Auditing (UK) (ISAs (UK)) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), the auditor exercises professional judgment and maintains professional scepticism throughout the audit.

 

The auditor also:

 

Identifies and assesses the risks of material misstatement of the entity’s (or where relevant, the consolidated) financial statements, whether due to fraud or error, designs and performs audit procedures responsive to those risks, and obtains audit evidence that is sufficient and appropriate to provide a basis for the auditor’s opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

 

Obtains an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s (or where relevant, the group’s) internal control.

 

Evaluates the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

 

Concludes on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s (or where relevant, the group’s) ability to continue as a going concern. If the auditor concludes that a material uncertainty exists, the auditor is required to draw attention in the auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion.

 

The auditor’s conclusions are based on the audit evidence obtained up to the date of the auditor’s report. However, future events or conditions may cause the entity (or where relevant, the group) to cease to continue as a going concern.

 

Evaluates the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (i.e gives a true and fair view).

 

Where the auditor is required to report on consolidated financial statements, obtains sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. The group auditor is responsible for the direction, supervision and performance of the group audit. The group auditor remains solely responsible for the audit opinion.

 

The auditor communicates with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that the auditor identifies during the audit.”

 

 

  • Thanks 1
Link to post
Share on other sites
1 hour ago, Marro said:

 

 

And why the delay in the auditors signing off the accounts?  Why would DC say the accounts would be released soon if he knew there was an issue?  Perhaps we can’t get them signed off because we are insolvent and no guarantee that the club will be funded in the future.

Yes?

Link to post
Share on other sites
4 hours ago, owlinexile said:

 

I am yet to see any evidence that Chansiri has ever had any kind of a plan in his entire life, let alone a genius master one...


That’s harsh. He chose his parents very carefully.

  • Like 2
Link to post
Share on other sites

Failure to file accounts can often be a sign that a company is in financial difficulties, having problems in its own administration, or that the accountants auditing the books have raised concerns which the company’s directors have not resolved to the auditors’ satisfaction.

 

......

C Palace a few years ago were threatened with being dissolved over late accounts...

 

Think it's fairly obvious our leader is skint and trying to find dosh.

No doubt it will come out in the wash...

 

..kin ell I'm a poet and didn't know it.

 

https://www.theguardian.com/football/2018/jun/05/crystal-palace-threatened-with-being-dissolved-over-late-accounts

  • Like 1
Link to post
Share on other sites
2 hours ago, kobayashi said:

It’s not complicated. Accounts are the responsibility of the Directors of a company. He is the only Director at SWFC Ltd so he has sole responsibility.

What if auditors refuse to sign off..?

 

 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...