15th Apr


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Bezhe's Latest Comments

My accounting training was many years ago but, at that time, the audit programmes required us to reconcile supplier balances in the accounts with statements from suppliers. In cases where there was a low overall percentage of clean agreement/reconciliation, there was provision for creditor circularisations. Typically that was done in companies with poorly organised accounts departments. We also circularised banks who were known or suspected…

Patisserie Holdings (LON:CAKE) - extract from last audited accounts (for year to 30/09/2017): "Liquidity risk The Group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility is achieved by overdraft facilities. The risks are managed by overdraft facilities and availability of a capital drawdown facility thus reducing exposure."…

Latest on Quindell (£QPP?) Many readers will have mixed feelings about the fact that KPMG have been fined £4.5 million (discounted to £3.15 million) and the audit partner has been fined £120,000 (discounted to £84,000) arising from their admission of misconduct in relation to the audit of the financial statements of Quindell for the period ended December 31 2013 (according to the FRC). Their misconduct…

I enjoy reading these articles and comments but sometimes I get a bit grumpy, especially about spelling. So this is a special request to Graham to spell it as "defence". Even though I share Graham's nationality, I'm a traditionalist regarding English usage; hence "licence" (noun), "license" (verb) etc. (I'm sure Graham has fond memories of the Irish Leaving Certificate exams - which started today with…

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