15225 replies to this topic

[Snippit]

Chart makes a development that appears somewhat embryonic...

Monday is seldom the best day of the week to trade let alone speculate...

Must be away to the Casino... be back Tuesday maybe...

 

https://jsecharts.bl...hoff-snh_8.html

 

 

 

 

[Ms Jet]

Any more info about mattress firm possibly being sold?

[Ms Jet]

Very aware of different fundamentals but when you see ten years ago snh share was worth about 11...its very hard to imagine the share isnt worth that now...obviously if negatives more than positive s..thr company cuppot ...

[LarryK]

When one of our chart readers indicates low im buying more...at last call snippit said resistance 2.50...but im seeing sneaky little dips :/

Could push up again but strong selloff around R3. That’s the major issue at the moment

[Ms Jet]

Keep up good research work..thanks

[DayTraderDad]

Exactly my point. How can a company with 130000 people and ultra complex control systems have one guy cooking books by billions of euros for so long with nobody picking it up?

Exactly! My take is that the big four have been doing this type of fancy accounting ( the three buckets the ex-CFO referred too) and now they need to clean their act because regulators are on their tail. How on earth can one expect PwC to clean this up when they themselves been fined read FT article "PwC fined £5.1m for ‘extensive misconduct’ over RSM Tenon audit" : https://on.ft.com/2MWwFIb

 

The Financial Reporting Council said it had issued PwC with a “severe reprimand” and an initial penalty of £6m, which was reduced to £5.1m following a settlement discount. The fine is the largest ever issued by the FRC. The company will pay an additional £500,000 towards the FRC’s investigation costs.

 

The watchdog also imposed a fine of £114,750 on Nicholas Boden, the PwC audit engagement partner for RSM Tenon, in relation to the collapsed group, which was forced to restate its 2011 accounts after discovering “significant errors”.

 

PwC and Mr Boden admitted to five separate instances of misconduct in their 2011 audit of RSM Tenon, the FRC said. These include accounting for the cost of employee bonuses, determining amounts recoverable on contracts, accounting for a lease and the calculation of goodwill of a subsidiary.

[Ms Jet]

When one of our chart readers indicates low im buying more...at last call snippit said resistance 2.50...but im seeing sneaky little dips :/

[Lionelza1]

Share price on a slow poison again today

Yea is what I noticed with this share..... No news and it starts with that slowwww down.... Wait on news for the turn around

[LarryK]

Share price on a slow poison again today

[LarryK]

Actually polly my business is small so obviously easier monitor but my accountants would notice if i stuck money in my pocket

Exactly my point. How can a company with 130000 people and ultra complex control systems have one guy cooking books by billions of euros for so long with nobody picking it up?

[Ms Jet]

Actually polly my business is small so obviously easier monitor but my accountants would notice if i stuck money in my pocket

[Lionelza1]

I think SNH should claim the money back for all the fees they paid for the accounting work.

Deloitte will suffer the same as KPMG... Monies were traded under the table there and somebody got greedy..... Is what happens when ur corrupt. .. But u get fckd in the end from all sides

Edited by Lionelza1, 07 September 2018 - 01:36 PM.

[Ms Jet]

😁 suffering in hermanus

[Polly]

So except for 2017, jooste and co had their asses covered legally as the results were audited and signed off?
Looking at the article jooste should initiate a civil suit against auditors due to personal loss/suffering and snh should do the same?
I’m not an expert, would Pwc have insurance against something like this?

 come now guys....If you put money in your pocket in your business, how the hell will the auditors know. They will sign off the accounts year after year..Now if one f your  employees see you doing it and pimps to SARS, will SARS go after the Auditors?

 

Ok how does markets determine price for any listed share??  past performance or future performance?

 

ANYONE?

[DayTraderDad]

They should do bit you also sign disclaimer s when they take on work

I think SNH should claim the money back for all the fees they paid for the accounting work.

[Ms Jet]

They should do bit you also sign disclaimer s when they take on work

[LarryK]

I think this article sums it up to what happened to Steinhoff and many more Steinhoff's to come: https://www.bbc.com/...siness-44526486

So except for 2017, jooste and co had their asses covered legally as the results were audited and signed off?
Looking at the article jooste should initiate a civil suit against auditors due to personal loss/suffering and snh should do the same?
I’m not an expert, would Pwc have insurance against something like this?

[Ms Jet]

I think this article sums it up to what happened to Steinhoff and many more Steinhoff's to come: https://www.bbc.com/...siness-44526486

Thanks for info.... I copied and pasted out of it.... Every year the watchdog reviews the audits of Britain's biggest companies to ensure they meet certain standards. The FRC noted problems at all the firms, but KPMG was singled out for the poor quality of its work.

[Ms Jet]

ok maybe dates wrong even so the drop is about 2/3rds..

[DayTraderDad]

Interesting Larry...

I think this article sums it up to what happened to Steinhoff and many more Steinhoff's to come: https://www.bbc.com/...siness-44526486