Discover and read the best of Twitter Threads about #PatisserieValerie
Most recents (2)
@retheauditors @premnsikka 1/ UK audit regulator #FRC fines #Deloitte £1.25m (£906k) c/w ‘severe reprimand’ over building materials distributor #SIGplc #audit failures. Deloitte’s audit partner Simon Manning fined £50k (£36k) - frc.org.uk/news/december-…. 
2/ Unsurprisingly for this type of business the ‘old chestnuts’ of y/end cash & supplier rebates reared their heads. A whistleblower reportedly ‘identified issues’ at its UK insulation & interiors subsidiary: ‘SIG Distribution’. KMPG were reportedly brought in to investigate.
3/ In 2018 SIG announced “With support from KPMG, the group has completed a review of financial reporting controls at SIG Distribution, which identified no further material accounting cause for concern” + “a number of employees are leaving the business” (insider.co.uk/company-result…).
1/3 Not much in @AlihussainST SIPP piece in today’s Times. He could have talked about the deja vu of skyrocketing SIPP PI insurance (c.f. the FSA’s Mega Buy2Let Mortgage Frauds) or talked about the secretive networks operating simultaneously inside/outside the FCA’s pitifully ..
2/3 small regulatory perimeter (c.f. the FSA’s Mega Buy2Let Mortgage Frauds). Heck he could have just asked for his colleague #PatisserieValerie's Luke Johnson's insight, after all he's an "intelligent partnership" guy as was Marc Hounsell + #LCF bondholders know to their cost ..
3/3 the fingerprints of "Project Kudos/Hypa".
