The saga of Leeds United’s insolvency, its management by KPMG and the undisclosed links between the club and two offshore companies continues. As the Guardian has reported:
Ken Bates’ hopes of securing the Football League share for his new company Leeds United 2007 appeared more distant yesterday after the league and HM Revenue and Customs declared [...]
The FT has reported a survey by Accountancy magazine that shows the proportion of women at the “Big Four” accountancy firms who were made partners this year dropped by a third from 2006 in spite of efforts to attract and retain women in senior roles.
Analysis by Accountancy magazine to be published this week shows that [...]
Nigel Harris at AccountingWEB makes the interesting observation that E&Y, PWC and KPMG are all claiming to be the biggest audit firm in the UK.
To their credit Deloittes settle for the number 2 slot, by their own admission. In fairness, that pretty much matches what I’m gathering of Deloittes right now.
As for the others, as [...]
Prem Sikka has been writing on tax avoidance for the Guardian. Prem is always controversial. Maybe that’s why we get on. But as one commentator also says on this piece:
I have been doing accounting work for over thirty years and can tell Geoff103, nairobiny, Tim Worstall and others that Prem Sikka is closer to the [...]
Good. Any other result would have been a disaster for corporate governance.
Now, were were the auditors in all this? They were, inevitably, KPMG.
The FT has reported that:
The Football League is refusing to sanction the sale of Leeds United to Ken Bates, the club’s chairman, and has launched an inquiry into the handling of the club’s affairs by its administrator, KPMG.
In a hard-hitting statement released on its website on Thursday, the league said it had failed to receive [...]
The fiasco of KPMG’s management of the administration of Leeds United continues. As the Guardian reports:
Ken Bates was last night handed control of Leeds United by administrators for the second time but just how much he paid for the club will not be made public for several months.
After the administrator, KPMG, approved Bates’s initial bid [...]
KPMG are in a spot of bother again. As has been mentioned here before, they proved compliantly gullible when appointed as administrators of Leeds United, put into liquidation at the behest of its chairman, Ken Bates and with the apparent willing cooperation of its mysterious offshore creditors, only for Bates to buy it straight back [...]
I’ve had a quick scan of KPMG’s new money laundering report. Here are some fascinating words and phrases not found in it:
1) Tax havens
2) Offshore (except for one mention of sanctions where ‘offshore’ meant ‘outside the USA and with regard to ‘offshoring’ the anti-money laundering function of a company)
3) Tax (bar a reference to “‘black’ [...]
Good. Any other result would have been a disaster for corporate governance.
Now, were were the auditors in all this? They were, inevitably, KPMG.
