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Financial Fair Play investigation

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Eggsyblueskin said:
No matter how many times people say otherwise, the rules were brought in specifically to prevent owners bankrupting a club in pursuit of success. Which is why all the clubs , including Everton, helped to formulate , vote them in and agreed to abide by them.
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But what @blulouie is highlighting is that Everton aren't doing that. The club owner carries the spending made.

How on earth is FFP protecting Everton in any way shape or form?
 
Villa_Fan said:
It is highly unlikely a club will submit accounts that auditors have identified discrepancies in, if they do they are pleading guilty at the time of submission. Also, the auditor is employed by and paid by the club, they will take the club's advice as to their accounting practices and their interpretation of said. Auditors will accept Everton's allocation of Covid losses even if they disagree with them as long as the interpretation is stated in the accounts. Other than blatant fraudulent accounting, the problem for clubs, and not just Everton, most clubs that get charged with FFP is when the FA disagrees with the interpretations made. This disagreement will always take place after the accounts have been submitted and accepted
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Auditors are paid by the club client because it’s a legal requirement to have an audit. They are certainly not a partner with the club to produce the accounts as club sees fit. Auditors do not follow the guidance of the club on accounting treatments and as long the numbers presented are consistent with that treatment give it the thumbs up. The whole purpose of the audit is to test those assumptions and accounting treatments.

The “Covid losses” are more of a P&S thing, but because they are clearly stated in the preamble of the 2021 accounts, they then have to be audited. The club stated in those accounts that the Covid losses were something mad like £170m. Because that number is stated in the accounts (even though not specifically affecting the P&L or balance sheet it’s in the waffle at the front), the fact those accounts had a clean audit opinion, the auditors must have been given substantiation for that number.

Not saying it doesn’t smell a bit funny mate, but that audit opinion is sacrosanct and not in any way complicit with what the club wants to portray. BDO would certainly value there own existence more than having Everton as a client.
 
Eggsyblueskin said:
No matter how many times people say otherwise, the rules were brought in specifically to prevent owners bankrupting a club in pursuit of success. Which is why all the clubs , including Everton, helped to formulate , vote them in and agreed to abide by them.
Click to expand...
Of course , the intentions where good ( although still weighted ) when 1st introduced.Many things have changed and this in no longer the case.

Not so long ago it was all about debt as that was the factor that put clubs out of business.
Yet here we are with some clubs having mountainous debts in the Premier lge.

From what I see the club has relatively little debt.
 
davek said:
We're in an existential fight for survival and you're flying drones over the forum dropping PL propaganda.
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Dave, I'm just not like a Kopite seeing a "witchhunt" and "conspiracee (sic)" everywhere

Unlike Kopites, if the rules are broken then you have to accept that punishment is coming

Don't simply blame someone else.

The Premier League is merely implementing that Chairman Bill the clown signed up to. Then persistently broke. As he's a complete clown. Worst thing ever to happen to Everton Football Club.
 

Damo_1878 said:
Dave, I'm just not like a Kopite seeing a "witchhunt" and "conspiracee (sic)" everywhere

Unlike Kopites, if the rules are broken then you have to accept that punishment is coming

Don't simply blame someone else.

The Premier League is merely implementing that Chairman Bill the clown signed up to. Then persistently broke. As he's a complete clown. Worst thing ever to happen to Everton Football Club.
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You welcome any punishment. That's the difference between me and you here.
 
davek said:
But what @blulouie is highlighting is that Everton aren't doing that. The club owner carries the spending made.

How on earth is FFP protecting Everton in any way shape or form?
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Come on , you know the answer to this.
We have agreed to abide by the rules we helped formulate.
Unless a codicil was added which excused Everton in the event of a rich owner rocking up?
And I think it’s Profit and Sustainability rules we may have breached not FFP which only concerns those clubs competing in European competitions.
 
The Premier League would not exist if it wasn't for our own Sir Philip Carter. This is all just a show for the gallery so the PL look like they can handle their own business. It would not surprise me if Everton are fully aware of how this plays out.

PL: Listen Everton. I'm going to have to look like I can handle things on my own.

Everton: And?

PL: Just do what I say and play along, but please just stop bringing attention to yourself or we will both be in the gulag.

Everton: Sound lad. See you later.
 

Wasn’t there some speculation about six months ago, the auditing firm were looking to leave their role as authors to the club. I think at the time the noise was that this is standard practice, do we know whether auditors were ever changed….probably just putting 2 & 2 together and getting 6
 
Blue peter said:
Wasn’t there some speculation about six months ago, the auditing firm were looking to leave their role as authors to the club. I think at the time the noise was that this is standard practice, do we know whether auditors were ever changed….probably just putting 2 & 2 together and getting 6
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I think it's every 5 years you must change your auditor, or at the very least, the audit partner signing off the audit.
 
blulouie said:
Of course , the intentions where good ( although still weighted ) when 1st introduced.Many things have changed and this in no longer the case.

Not so long ago it was all about debt as that was the factor that put clubs out of business.
Yet here we are with some clubs having mountainous debts in the Premier lge.

From what I see the club has relatively little debt.
Click to expand...
Our problem is we have failed to increase our revenue to match our increased spending , especially our wage bill.
I agree with you that an unwanted side effect of rules is to make it difficult for clubs to find the sustained success that drives an increase in revenue, but that is the challenge all clubs face.
Bottom line is that if ourselves or Man City are found to have breached the rules we ourselves helped create we will be punished, and we can’t really complain.
 

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