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harrycallahan

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Posts posted by harrycallahan

  1. Makes you wonder what were the auditors doing?

    there is not really anything new in this behaviour, many directors/officers of companies floated on the market pay themselves huge salaries... [etc]

    You're missing the point - whatever goes on needs to be transparent to shareholders and it's the auditor's job to ensure that the accounts present an accurate picture. For this they are paid a handsome fee and are themselves liable for signing off on dodgy annual reports. It's quite difficult for money to walk out of a company without creating a blotch on the balance sheet.
    and have you checked the companies finances that they submit every year to the SE and shareholders - you will find that it was all above board and plain to see - they gave themselves huge salaries and in fact is all above board and plain to see, which is exactly my point, stupid is what stupid does - shareholders and customers without doing their research - and a life time member is almost like a shareholder - you will find this case will stall - unless they provided false accounts or broke SE rules

    Well I just did my own back-of-the-envelope audit and found irregularities, I guess that's why the anti-money laundering peeps are onto it.

  2. Makes you wonder what were the auditors doing?

    there is not really anything new in this behaviour, many directors/officers of companies floated on the market pay themselves huge salaries... [etc]

    You're missing the point - whatever goes on needs to be transparent to shareholders and it's the auditor's job to ensure that the accounts present an accurate picture. For this they are paid a handsome fee and are themselves liable for signing off on dodgy annual reports. It's quite difficult for money to walk out of a company without creating a blotch on the balance sheet.

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