jmc-man
25th May 2006, 17:08
I came across this interesting story in the Telegraph recently..
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/05/17/cnalpha17.xml
Interesting reading that has already cost some heads at the top of Alpha. I was particularly intrigued with the following statement from Alpha Catering...
Alpha admitted last week that "by entering into the new commercial arrangements in October 2005", Alpha "consciously assisted that customer to put itself in a position in which it might have been able to manipulate its own financial statements in circumstances in which the customer's parent was preparing for an initial public offering".
So , unless I'm mistaken , it would seem ( from the text) that Alpha have admitted entering into an accounting deal that allowed some "manipulation" of Excel parent group finances just prior to stock market floatation.
If this is true, I imagine it could have some serious implications for Excel, the Avion Group and Alpha Catering.
Anyone heard any developments?
jmc-man
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/05/17/cnalpha17.xml
Interesting reading that has already cost some heads at the top of Alpha. I was particularly intrigued with the following statement from Alpha Catering...
Alpha admitted last week that "by entering into the new commercial arrangements in October 2005", Alpha "consciously assisted that customer to put itself in a position in which it might have been able to manipulate its own financial statements in circumstances in which the customer's parent was preparing for an initial public offering".
So , unless I'm mistaken , it would seem ( from the text) that Alpha have admitted entering into an accounting deal that allowed some "manipulation" of Excel parent group finances just prior to stock market floatation.
If this is true, I imagine it could have some serious implications for Excel, the Avion Group and Alpha Catering.
Anyone heard any developments?
jmc-man