The issue of Rangers as a ‘going concern’ has been raised by a leading accountant in the wake of the Ibrox club issuing unaudited accounts.
Confirmation that Craig Whyte served a seven year ban from being a director accompanied the accounts which failed to mention a possible £49m tax bill although in his statement Whyte described the issue as a black cloud.
With UEFA looking closely at licencing issues to protect the integrity of their competitions concerns about the sustainability of any club are a major worry for the football authorities.
Discussing the impact of a potential tax bill of £49m plus on the unaudited accounts in the Scotsman Neil Patey of Ernst & Young said: “I don’t see anything sinister in it at this stage. But it would be an interesting question for the auditors if they try to have them sign the accounts before the case is determined.
“From an auditors point of view, you would challenge the going concern if you think there could be a big event which could see the club running out of cash.
“You try to get clarity before you sign so I wouldn’t be at all surprised if you didn’t see that audit opinion being given until after the tax hearing in January. There might not be full clarity then but you would expect a greater degree of it.”
CLICK HERE for UEFA issues financial warning to clubs
CLICK HERE for Video Celts TV
Follow Video Celts on Twitter, Facebook
I don’t profess to know much about Audits or Company Law…but I do know embarrassment when I see it.
If Celtic’s owner behaved anything like this …I’d be really pissed off.
How Rangers’ supporters are taking this ..I’d be interested to know.
There will be the loyal hardcore who will blame everyone but Mr. Whyte…but your average Rangers’ fan must be wondering what the hell is going on.
Even if ……and it’s a huge IF…..Mr. Whyte is “blameless”..his handling of the situation has me baffled.
You normally look to the media to explain everything….but …as with all things detrimental to Rangers…
there’s a reluctance to get involved.
When will it end??? How will it end??
Who knows…
But I’d be a liar if didn’t say I’m enjoying every minute of it. Thanks Mr. Whyte.
We do know one thing for sure. Everything possible will be done again to hide the corruption and the failure to pay taxes to the country like all clubs are supposed to do, in fcat all citizens. Lets be honest, the dishonesty isn’t a surprise for anyone. these jokers have had protection from every group imaginable who are part of or want to be part of the ever growing establishment. There is amazing corruption in Scotland. Bigotry and bias is well and truly accepted in the establishment, and in fact, encouraged. Scotland is the only country in europe where the establishment think they are untouchable. Not without good reason either. The powers that be have their backs!
Berlussconi passed laws so he could not himself be prosicuted for things that may not have been quite legal.one small example
Im fed up of this Scotland is the only country pish. Problems we have but this we are they only and the most oppressed people gives me the boak.
Plenty of people worse off face more blatent and extreme oppression. I dont condone or deny curruption, bias or bigotry for any minute and it should be fought against whereever it arises.
But the Scotland is the only …. absolute pish
But no other country professes to be ‘the best wee country in the world’. Corruption and bias exist everywhere. Rich people across the globe have an in-built feeling of entitlement.
But it is the hypocrisy in Scotland coupled with the barely concealed (and at times not even concealed)
‘why don’t you go home’ mentality. And I am not talking about the chubby, wine-swilling sash-wearers, they are too obvious, it is members of so-called polite society that are dangerous.
Personally, I will take no pleasure in their misery until Celtic are sitting top of the league.
Let’s take care of business first.
wonder what will happen if uefa finds they were not eligable for europe last season . surely they will have to claim prize money back and impose a lengthy ban