Post Office scandal

WARNING: This section may contain jokes or topics of an offensive nature.
Recommended for over 18's only. Send Admin a PM to request exclusion.

Moderators: Admin, Ralph, asl, Robin

Post Reply
asl
Posts: 7456
Joined: 20 Nov 2009, 09:37
All through the inquiry, I was asking where the auditors were if the the allegedly-missing money was ending up in a suspense account before being included in the P&L. It seems that we might finally get some answers as EY are to be investigated by the FRC over the matter. From my own professional experience of them, I'm happy to buy popcorn and watch them get hauled over the coals.
Top
paperboy
Posts: 3256
Joined: 05 Jul 2011, 22:56
I suppose if a company is paying their bill, auditors aren't going to be too critical of them.
Coincidentally the author of the infamous Ismay Report was previously an EY auditor.

https://www.postofficescandal.uk/post/r ... ful-idiot/
Top
ctfc-fan
Posts: 2358
Joined: 06 Jan 2010, 12:00
paperboy wrote:I suppose if a company is paying their bill, auditors aren't going to be too critical of them.
Coincidentally the author of the infamous Ismay Report was previously an EY auditor.

https://www.postofficescandal.uk/post/r ... ful-idiot/
However that is exactly their role, to question them and ensure they’re behaving and reporting properly.
Top
User avatar
Ihearye
Posts: 4519
Joined: 05 Jan 2018, 08:08
asl wrote: ↑16 Apr 2025, 14:43 All through the inquiry, I was asking where the auditors were if the the allegedly-missing money was ending up in a suspense account before being included in the P&L. It seems that we might finally get some answers as EY are to be investigated by the FRC over the matter. From my own professional experience of them, I'm happy to buy popcorn and watch them get hauled over the coals.
Exactly, never hot on with them on the occassions i got involved with them. They make mistakes like all of us, but judge us by our mistakes
Top
asl
Posts: 7456
Joined: 20 Nov 2009, 09:37
I once told an EY auditor that a particular process had a 2% suspense rate.

He asked: "is that 2% per day or 2% per month?"
Top
Red Duke
Posts: 2117
Joined: 20 Nov 2009, 09:15
Location: North West
It doesn't surprise me in the least. t was said to me many years ago, only those who don't do well at big accountancy firms end up doing auditing.
Top
paperboy
Posts: 3256
Joined: 05 Jul 2011, 22:56
An update.
Progress, but like wading through treacle.
Is this part of the over-arching strategy I wonder.

https://www.computerweekly.com/news/366 ... fice-probe
Top
asl
Posts: 7456
Joined: 20 Nov 2009, 09:37
"If we delay things long enough, all the victims will have died so the interest will wane". That certainly seems to be the tactic employed where compensation is concerned.

That's a good article with LOTS of links to earlier events.
Top
paperboy
Posts: 3256
Joined: 05 Jul 2011, 22:56
Clever! 👏

https://x.com/stugoo17/status/193970540 ... NAEBA&s=19
Top
asl
Posts: 7456
Joined: 20 Nov 2009, 09:37
Apparently, Sir Wyn will be delivering volume 1 of his verdict (is that the right word for the result of a public inquiry?) at midday today along with some narrative notes that will be live-streamed.
Top
Post Reply