SNP Auditors Issue Lengthy Fraud Statement in Party’s Accounts

As the probe into the disappearance of the SNP’s £660,000 referendum war chest continues, it looks like the party’s auditors are keen to protect themselves. Nestled within the SNP’s 2020 accounts, released yesterday, is an extraordinary statement from accountancy firm Johnston Carmichael LLP on the “extent to which the audit was considered capable of detecting irregularities, including fraud”. The firm claims:

“We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue recognition […]

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation.”

When three members of the your own finance and audit committee have already quit over a lack of transparency, having your auditors cover their backs in case the lawyers show up is hardly a good look…

mdi-tag-outline Fraud SNP
mdi-timer August 27 2021 @ 11:30 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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