Take your time, I’m willing to wait, I’ve been on the forum since 2006 so I won’t go away. I know you probably have some daily checklists to complete.
I was referring to the fact that you previously mentioned that you worked in Birmingham.
Let’s go with the Anglo collapse - can you please explain what you think caused the collapse of Anglo Irish Bank? If you think it had anything to do with Sean Fitzpatrick’s hidden loans you’re even slower than I thought. Anyway - please explain what caused the collapse of Anglo Irish Banks, we’ll take it from there.
Are you really saying you believe Paddy Powers were willing to change auditors because a few people couldn’t access their website? Do you believe everything you read on this forum? OMFG.
Do you not think an audit firm would be more worried about losing its entire business and going the way of Andersen by giving an incorrect opinion than it would be by losing one client? Again, coming back to the Anglo question - what should the auditing firms have done differently? I’m really not sure you understand what caused the problems over the last few years.
I’ve actually never voted FF in my life. I though Lenihan made the best decisions he could based on the information available to him at the time and I still believe that. Speculating as to what would have happened if we had let the banks go to the wall is futile, a bit like wondering what would have happened if your parents never met. We might have avoided being on the hook for the bondholders and been in a better position now but there is no way to know what impact a decision would have had on our ability to attract foregn investment, which is just about the only thing we have going for us.
If I’m wrong on this, can you present a credible alternative? The Revenue Commissioners? How about FAS?
Your main problem is that you’re working in some back office somewhere, a small part of a machine and you just haven’t had the chance to stand back and put it all together and figure out how things work.
The question is not what causes companies to collapse but the usefulness of auditors and the profession as a whole. Did the auditors raise concerns at buoyant shareholder meeting at Enron, Anglo, Worldcom, Lehmans etc. The info may well have been hidden from them but it prompts the question - what is the point of them? They are certainly not a true and fair view of a companys financial position. Successive financial collapses have taught us that. It would also save you bean counters in the IFSC, talk about back office ha ha, and even the ones who blow about how great
they are now they have left the IFSC for NYC - Congrats mate by the way, from the pointless nature of your profession.
Auditing is pretty much the same as someone putting together a snag list for a person who builds a house. Would the person building the house be so stupid as employing someone who is on a big contract anyway from the builder and whose primary aim is the protection of a long term relationship with the builder not the home owner.
You have been systematically destroyed here by Tinnion and now run back to your books on Enron buddy that you read before you were turned down at the milkround, and that you think gives you a great understanding of the auditing profession.
To my uneducated eye, the facts seem thus. DJ’s company has debts of €1.7m. Of this, €600,000 is owed to DJ himself. Now we’re down to €1.1m. The unauthorised transactions come to a total of €200,000, which leaves trading losses of €900,000. Now, if I were a director of the company, I would be more concerned about the €900,000. As stated in the main article, the fraud was uncovered by the auditors, so it makes any criticism of that profession redundant in this thread.
The fraud was uncovered by the new auditors. The old ones just collected their fee. I agree overall though that DJ obviously isn’t a very good businessman.
I wonder how the sisters rival business is doing?
If she was Financial Controller for a company that was losing a fortune, what would possess her to set up a company doing exactly the same?
They actually invested in this shit… I think I made it quite clear at the time it was a dead duck. I still stand over that.
They have signed up exactly zero herds since the dragon got on board in what was a barmy business idea anyway.
she invested 20k in one business alright, and made a big deal out of it if you remember.
she then went on miriam o’callaghan and some other chat show in the months that followed doing the ‘look what i did with arent i a great woman routine’.
allegedly the 20k never arrived and when pushed the chap was told he had recieved it and more in advertising.
there is no mention of that woman now on the chaps website, just a fleeting dragons den mention.
careys luck changed when he left the wife for that cunt, id imagine it would be easy for a mother and sister to think you are a cunt worth ripping off when you shack up with a piece of work like her
