Ideal's financial woes.

An inquisitive mind might wonder whether there is a connection between the recent appointment of KPMG to audit Ideal, and the series of resignations from the finance department at Ideal, including financial director Mike Camp. I wonder what skeletons might be about to jump out of the closet? :33:

If it's steamy Sue's skeleton they will have to dig deep :33:

Interesting post Postman Matt.

The audit and a recent post on this forum about people "pulling the wool" over the eyes of the management and the last CEO certainly has caused me to pay more attention to the goings on in Peterbro!

the rumor is that they are being looked over by major retail brand
but who knows. but if they continue their current restructure it could be thier downfall and leave them in a position to taken over, maybe val and paul might sell out again and make even more millions from this situation.:54:

How do you know so much about the finances of ideal World? Do any of you work for them? Who are Paul and Val? Sorry if I'm the only one who's so vague, just a fan of the channel...

Well all publicly listed companies have to change their auditors every few years (don't know the exact rules) so I wouldn't necessarily read too much into the appointment of new auditors.

kitbag said:

How do you know so much about the finances of ideal World? Do any of you work for them? Who are Paul and Val? Sorry if I'm the only one who's so vague, just a fan of the channel...

Click to expand...

As a Plc you can easily find their latest accounts, director details, well quite a lot cos they are regulated, also you can get this info from Companies House in Cardiff.

Correct me if I'm wrong but it is the Company's Memorandum & Articles of Association that deals with the change of auditors, I did not think this was a statutory requirement. I thought it was up to the directors and shareholders as per the Mem and Arts?

It is good practice, however, to change your auditors - see Enron and Arthur Anderson