Tomorrow’s Herald Front Page

They are just reporting the auditor report in the accounts released last week. Hardly a massive exclusive or anything new.

This is the paragraph and as said above this has been in the accounts for years:

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
We draw attention to information in note 1 in the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover projected cash shortfalls in season 2021/22 and 2022/23. The precise level of funding required is uncertain as it is inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. As stated in note 1 the risk that key cash flows are not achieved as forecast, along with the absence of a binding debt facility for any shortfalls, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
 
GLAGAZ said:
The Herald, 20th November last year:

Auditor's 'going concern' question as Rangers annual pre-tax losses rise to £18m​

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Good find, just that time of the year. As predictable as the Daily Mirror reporting killer hornets are on the way.

www.heraldscotland.com

Auditor's 'going concern' question as Rangers annual pre-tax losses rise to £18m

RANGERS have announced pre-tax losses of £17.793m - as it emerged it had raised nearly £13.3m in the space of seven weeks with the sale of 20 of…
www.heraldscotland.com www.heraldscotland.com
 
As long as the board continue to back the club financially, it's nothing to be concerned about

Even if Park and the others were unable to continue providing funding, there are other investors around. They'd be doing it to make a profit rather than to back the club, but still an option. The accounts make reference to these investors approaching the club (and being rejected)
 
DoubleWhopper said:
What does that mean in layman’s terms ?
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As part of the audit, the auditors need to offer an opinion on whether the business is a going concern. Because we need additional funding to get through the next financial year, the auditors need to state this in the accounts, which is what the Herald’s story is about.

Given this the way the directors have chosen to run the club (with them funding the losses/ proving additional funding when needed), it’s nothing to be concerned about.
 
It's been in the accounts ever year.

It's not something we want clearly but it's a technical thing that has to be there, not something that should be worried about unduly.

And any attempt to promote it as something 'new' or unexpected is clear as day disgraceful shit stirring.
 
Clay Davis said:
They are just reporting the auditor report in the accounts released last week. Hardly a massive exclusive or anything new.

This is the paragraph and as said above this has been in the accounts for years:

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
We draw attention to information in note 1 in the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover projected cash shortfalls in season 2021/22 and 2022/23. The precise level of funding required is uncertain as it is inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. As stated in note 1 the risk that key cash flows are not achieved as forecast, along with the absence of a binding debt facility for any shortfalls, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
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This has been in the accounts for about 3 years
 
SDF91 said:
As part of the audit, the auditors need to offer an opinion on whether the business is a going concern. Because we need additional funding to get through the next financial year, the auditors need to state this in the accounts, which is what the Herald’s story is about.

Given this the way the directors have chosen to run the club (with them funding the losses/ proving additional funding when needed), it’s nothing to be concerned about.
Click to expand...
Good.
Just because of what happened previously, seeing reports like this makes me worried!
 
SDF91 said:
As part of the audit, the auditors need to offer an opinion on whether the business is a going concern. Because we need additional funding to get through the next financial year, the auditors need to state this in the accounts, which is what the Herald’s story is about.

Given this the way the directors have chosen to run the club (with them funding the losses/ proving additional funding when needed), it’s nothing to be concerned about.
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Where does 80m come into the ‘story’ ?
 
Even I knew that something along these lines are in the accounts and what it means. Pathetic for that to be front page, but not at all surprising. And why today when accounts have been out for a while now?
 
Coatbridge Chancellor said:
It's been in the accounts ever year.

It's not something we want clearly but it's a technical thing that has to be there, not something that should be worried about unduly.

And any attempt to promote it as something 'new' or unexpected is clear as day disgraceful shit stirring.
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Team with no team and no....
Morelos, Kent, aribo, Kamara, Patterson, Roofe, Sakala plus 20 others. Has spent 75 million, and now has over 100 million in playing assets.

Stop the press.
 
F*ck me that’s like the front of a Celtic View/ Fanzine or SNP paper!

Blaming British special forces for taking out an SNP campaigner.

The Protestant and British club Rangers are in financial trouble.

Oh and they are still raging at COP26 even if things sound good.

F*ck me man and they call us bigots for wanting to pay honour to every man of any culture who lost their life’s in the world wars.

PS it’s missing who CBC played or are playing this weekend or St Pats in another words.
 
No idea what shit they are stirring but looks like BS as usual from the Scottish mhedia

No mention of the paedos being prosecuted ?

Until this scum outlet report on this scandal they can phuck off
 
TwoUpFront said:
Good.
Just because of what happened previously, seeing reports like this makes me worried!
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That’s understandable, but I wouldn’t think twice about it.

We’re moving towards the point where these kind of audit opinions won’t be necessary, but we’re a couple of years away going by the board’s comments in the latest report.
 
Clay Davis said:
They are just reporting the auditor report in the accounts released last week. Hardly a massive exclusive or anything new.

This is the paragraph and as said above this has been in the accounts for years:

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
We draw attention to information in note 1 in the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover projected cash shortfalls in season 2021/22 and 2022/23. The precise level of funding required is uncertain as it is inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. As stated in note 1 the risk that key cash flows are not achieved as forecast, along with the absence of a binding debt facility for any shortfalls, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Click to expand...
A note that is legally required to go into accounts in order that our Auditors can sign them off.

All it means is that we project certain things to happen by next June, ie Euro qualification and player trading, etc but because we dont have an overdraft facility and we are relying on investors covering shortfalls that aren't guaranteed then the Auditors need to put this note in.
 
as long as it's not by that meticulous, incisive, investigative journalist Martin Williams - who's never mangled the English language in his life, no sirree Bob, I'm OK with it
 
I’ll tell you right now, that’s been lifted straight from 3 names blog. Absolute certainty.

What a load of baiting pish from a deplorable rattler fanzine.

Going concern my arse, more shuttleston porn for those cunts.
 
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