Tweet from Iles just now -
Wanderers appoint Shaun McHugh as new head of finance and Cowgill Holloway as their new auditors.
Wanderers appoint Shaun McHugh as new head of finance and Cowgill Holloway as their new auditors.
boltonbonce wrote:Is that the guy who did a similar job at Crystal Palace?
To me it's a bit of a concern as it sounds desperate. Why "sever ties" with Deloitte's when they were in the middle of doing the job? Weren't they prepared to give Ken the numbers he wanted to hear? I suspect it's something to do with the auditors being unwilling to verify the accounts as being fair and accurate last time out.Norpig wrote:all sounds very promising and positive, the head of finance chap sounds like he will know his stuff
They'll certainly be cheaper than Deloitte's but I'd have thought that Deloitte's would have the better chance to get everything done promptly as they are already so far down the road with this ergo if it's being done for budgetary reasons it may be a false economy. Or a red herring.Bread2.0 wrote:No offence to Cowgills but they used to do my accounts and they're not the largest firm in the world.
In fact, they're probably not even the biggest accountancy firm in Bolton.
I'm not suggesting that there may be any impropriety afoot, but I would imagine that a contract like this is worth a lot of money for them and that may bring with it a certain degree of latitude when it comes to "flexibility" regarding signing off on stuff.
I may be completely wrong of course but.......well.......you know......
Bread2.0 wrote:No offence to Cowgills but they used to do my accounts and they're not the largest firm in the world.
In fact, they're probably not even the biggest accountancy firm in Bolton.
I'm not suggesting that there may be any impropriety afoot, but I would imagine that a contract like this is worth a lot of money for them and that may bring with it a certain degree of latitude when it comes to "flexibility" regarding signing off on stuff.
I may be completely wrong of course but.......well.......you know......
Sluffy wrote:Anderson stated some time back that we were going to change from Deloitte's because of the cost - so this announcement has been expected and is not being done for any underhanded reasons as alluded to above.
It certainly is not unreasonable to expect a new Head of Finance and a new auditor company to want more than just four weeks to comprehend the state of the accounts at any business that has been undergoing what we have in the last couple of financial years.
It wouldn't even surprise me if the accounts are delayed past May, as they would then know what division we would be playing in next season and thus be able to comment with a greater certainty about the financial security of the club as a going concern.
I don't think the late submission of the accounts will be of a major concern to the Football League (or Companies House) as they clearly have been closely involved in the financial position of the club since Anderson's involvement and we have not suffered any points or financial penalty's from them and still have been able to bring in players in both the last two windows despite the embargo.
Kane57 wrote:Sluffy wrote:Anderson stated some time back that we were going to change from Deloitte's because of the cost - so this announcement has been expected and is not being done for any underhanded reasons as alluded to above.
It certainly is not unreasonable to expect a new Head of Finance and a new auditor company to want more than just four weeks to comprehend the state of the accounts at any business that has been undergoing what we have in the last couple of financial years.
It wouldn't even surprise me if the accounts are delayed past May, as they would then know what division we would be playing in next season and thus be able to comment with a greater certainty about the financial security of the club as a going concern.
I don't think the late submission of the accounts will be of a major concern to the Football League (or Companies House) as they clearly have been closely involved in the financial position of the club since Anderson's involvement and we have not suffered any points or financial penalty's from them and still have been able to bring in players in both the last two windows despite the embargo.
Delaying accounts by two years is unheard of.
wanderlust wrote:We're just speculating but the timing of the change does look unusual. That said Sluffy makes a fair point about the move potentially being a tactic to delay submission until we know what division we'll be playing in - especially as I suspect KA has bet the farm on us going up.
I think the most astounding thing about the whole affair is just how patient HMRC, the creditors and the FA have been with the club. Maybe that's simply a matter of them recognising that if the club goes under, nobody gets paid.
Bolton Nuts » BWFC » Bolton Wanderers Banter » Bolton's appoint new Auditors and also a club Head of Finance.
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