Accounting and Audit

FRC, FCA and PRA Joint Statement 26 March 2020

I notice the market has just dipped below 5,600 so clearly most people are not very worried by this FRC, FCA and PRA announcement. Nevertheless I would point out...
Post Date: March 27, 2020 Read more

NMC Debacle

Trading in the shares in NMC Health (NMC) was suspended on Thursday and a formal investigation by the FCA was announced. The suspension announcement said that the company has...
Post Date: March 1, 2020 Read more

Competition in the Audit Market

I attended a “roundtable” event at the Financial Reporting Council (FRC) on Monday. It was primarily a discussion of audit market competition and how to improve it, with private...
Post Date: February 19, 2020 Read more

Brydon Audit Review and FRC Update

Readers probably don’t need to be reminded of the poor reputation of auditors and accountants. The announcement yesterday from Staffline Group (STAF) reiterates the point. They note the latest...
Post Date: December 20, 2019 Read more

FRC Fines Grant Thornton £650k, Ted Baker and Tullow

A ShareSoc member emailed us to give his view: This is terrible. Why wouldn’t the FRC name the partner and the company involved, especially when Grant Thornton has been...
Post Date: December 12, 2019 Read more

M&G Property Fund Closed and M&C Saatchi Accounting Problems

The really bad news yesterday for many investors was that the £2.5 billion M&G Property Portfolio Fund had been closed to redemptions. This is of course an open-ended fund...
Post Date: December 9, 2019 Read more

Ted Baker Audit Failure, SRT Marine Big Deals

The bad news this morning for holders of retailer Ted Baker (TED) is that the company has announced an independent review of its inventory. It says it has identified...
Post Date: December 3, 2019 Read more

De La Rue, Excessive Debt, Victoria and Link’s Debt Monitor

Link Asset Services have issued a note pointing out that De La Rue (DLAR) has net debt that now exceeds its market cap. The high debt in the company...
Post Date: November 29, 2019 Read more

Mello Event, ProVen and ShareSoc Seminars and Lots More News

It’s been a busy last two days for me with several events attended. The first was on Tuesday when I attended the Mello London event in Chiswick. It was...
Post Date: November 14, 2019 Read more

GB Group, Patisserie Holdings, FRC Stewardship Code and Halma

The stock market seems to be in limbo as business waits to see the outcome of Brexit politics. In my portfolio, small cap companies are drifting down and even...
Post Date: October 27, 2019 Read more