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The disgraced John Delaney
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Robbie Keane
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YBIG Minister of Doom & Gloom

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Points: 39892 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap junior Quote  Post ReplyReply Direct Link To This Post Posted: 30 Dec 2019 at 11:55am
Originally posted by cinelli cinelli wrote:

The 2018 accounts show that Deloittes' audit fees rose from 155k in 2017 to 265k in 2018 - a massive increase! Given their incompetence over many years how the *uck is this justified?
They were auditors for well over 20 years , so clearly a cosy relationship developed. No doubt many premium tickets for home games were despatched from Abbotstown to Deloitte HQ,

2 suggestions for the new Board:

If there are any sums still owed to Deloitte they should be withheld because of Deloittes' incompetence over many years.

Deloitte have resigned so new auditors will have to be appointed - the new board should say that the maximum  term of new auditors will be limited - say 4  or 5 years.

 


If true I wonder why that wasErmm
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inlikeflynn View Drop Down
500 Club la la la
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Bad news that 210 people might not get paid!

How do the FAI need 210 staff? Is a lot of that made up of local coaches? Could they not be directly employed by the regional football authorities, so the government could fund those bodies, ensure the  safety of these people's jobs and not directly fund the FAI. 

We all know that money going into the FAI in the past has not filtered down to those who have needed or deserved it. Give the FAI €20m today and it could go to banks tomorrow and still leave these guys shafted.
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Robbie Keane
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Still no indication on how it went so downhill. 

Its infuriating now you had all those statements from JD on how his salary was so high because of the great financial situation he had the organisation in. But it appears it just got worse and worse overtime and to the point where we was doing cut price deals to get money in upfront in order to kick the can down the road until the bubble eventually went POP. But he couldn't have done it all alone and all responsible should be held to account or if it was the whole structure that failed then it needs to be changed also.
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Ray Houghton
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Originally posted by cinelli cinelli wrote:

The 2018 accounts show that Deloittes' audit fees rose from 155k in 2017 to 265k in 2018 - a massive increase! Given their incompetence over many years how the *uck is this justified?
They were auditors for well over 20 years , so clearly a cosy relationship developed. No doubt many premium tickets for home games were despatched from Abbotstown to Deloitte HQ,

2 suggestions for the new Board:

If there are any sums still owed to Deloitte they should be withheld because of Deloittes' incompetence over many years.

Deloitte have resigned so new auditors will have to be appointed - the new board should say that the maximum  term of new auditors will be limited - say 4  or 5 years.

 

Accounts are here



It appears total fees for auditors rose from approx €102K in 2016 to €231K in 2017 and to €268K in 2018.  

The auditor for many many years is an experienced audit partner in Deloitte.

I think incompetence is difficult to argue given the facts.  
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Roy Keane
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Originally posted by t_rAndy t_rAndy wrote:

Still no indication on how it went so downhill. 

Its infuriating now you had all those statements from JD on how his salary was so high because of the great financial situation he had the organisation in. But it appears it just got worse and worse overtime and to the point where we was doing cut price deals to get money in upfront in order to kick the can down the road until the bubble eventually went POP. But he couldn't have done it all alone and all responsible should be held to account or if it was the whole structure that failed then it needs to be changed also.

Made up or Madoff Mathematics....


Edited by Cabra Hoop - 30 Dec 2019 at 2:36pm
" BFC always gives me a laugh........ "
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cant recall any of the big accountancy firms taking a hit for a financial scandal on their watch
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Ray Houghton
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Originally posted by Newryrep Newryrep wrote:

cant recall any of the big accountancy firms taking a hit for a financial scandal on their watch

EY audited Anglo and "missed" a small €8 billion hole.  They suffered the same consequences as Seanie, Fingers and the lads.






Edited by gspain - 30 Dec 2019 at 3:00pm
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Roy Keane
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Originally posted by Newryrep Newryrep wrote:

cant recall any of the big accountancy firms taking a hit for a financial scandal on their watch
Arthur Andersen
"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.
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Audit is a joke, but their job is to ensure the accounts they are shown are true and fair. If there's other accounts then that's not on them unfortunately. SAme thing happened with EY/Anglo. Most people working in finance in Ireland started at one of the audit firms, so they all know how to hide something from auditors.

Lets not get away from the problem of how the money was spent at FAI
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Paul McGrath
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Originally posted by colemanY2K colemanY2K wrote:

Originally posted by Newryrep Newryrep wrote:

cant recall any of the big accountancy firms taking a hit for a financial scandal on their watch
Arthur Andersen

Where they not just taken over one of the other ones 
'Irish' Songs for an Irish team - no SPL EPL generic sh*te
Richard Dunne - 6th Sept 11 - best marshalling of a defence in Moscow since General Zukov Russia V Germany 1941
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Ray Houghton
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Originally posted by Newryrep Newryrep wrote:

Originally posted by colemanY2K colemanY2K wrote:

Originally posted by Newryrep Newryrep wrote:

cant recall any of the big accountancy firms taking a hit for a financial scandal on their watch
Arthur Andersen

Where they not just taken over one of the other ones 

Accenture used to be Andersen Consulting but they split from the audit side before the Enron scandal and became Accenture.
After Enron different parts of the business were taken over by various other audit and consulting firms. 
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Same hoors doing the same shenanigans under a different brand name. 

Never going to change.
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From the FAI Rulebook... 

RULE 17. ROLE OF THE HONORARY TREASURER -
4. The Honorary Treasurer shall, together with the Director of Finance, sign off the expenses of the Chief Executive Officer, the President and other officers. The Honorary Treasurers expenses shall be signed off by the Chief Executive Officer and the Director of Finance.

It’s clear as day what happened to the money. . 
l hear you are a racist now, father ?
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Kevin Kilbane
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Looked at that accounts link. Aviva Stadium makes a loss outside of the football and rugby matches. Would like to see overall return on investment between money paid towards construction by FAI + annual losses less surplus from home international matches. Say it could be an overall negative return so far since it opened.

Bank account overdrawn at end of 2017 and 2018. Unlikely to have improved.

The next step is the bank refuse to extend the overdraft limit when the cashflow position gets really bad. 

Every chance it will be the bank who pull the plug on the whole thing. 
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Originally posted by t_rAndy t_rAndy wrote:

Still no indication on how it went so downhill. 

Its infuriating now you had all those statements from JD on how his salary was so high because of the great financial situation he had the organisation in. But it appears it just got worse and worse overtime and to the point where we was doing cut price deals to get money in upfront in order to kick the can down the road until the bubble eventually went POP. But he couldn't have done it all alone and all responsible should be held to account or if it was the whole structure that failed then it needs to be changed also.


Alarm bells should have been ringing years ago. Delaney was way too prominent in the media and a household name in a way he shouldn't have been for a CEO of a small football association. Does anyone even know who the chairman of the FA is?

The clues were there that he must have been running the FAI like a dictator and was relishing the media spotlight.
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Jack Charlton
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there was alarm bells ringing before he even got the ceo job but the gravy train under jd bought off plenty including loads of ex posters on here.
One City,One County,One Club GUFC will be back.
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Jack Charlton
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Originally posted by gufct gufct wrote:

there was alarm bells ringing before he even got the ceo job but the gravy train under jd bought off plenty including loads of ex posters on here.

Funnily, I think the media spotlight was all about consolidating his position as the supremo / overlord of Irish foootball. It might have been easier to replace him without it, but it was helping to boost the cult of personality surrounding him.
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Robbie Keane
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Stephen Kenny must be sh*tting himself.  If the FAI goes tits up he might not get the job and he won't be on 1.2m a year if he does.


Edited by Trap junior - 31 Dec 2019 at 12:44am
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