According to the Evening Standard, the business empire of Allen Stanford, the Texan tycoon facing multi-billion dollar fraud charges in the USA, was audited by a firm of accountants operating from a terraced house in Enfield. Sounds dodgy doesn’t it?
Then again, HBOS was audited by KPMG and RBS by Toilet and Douche, for all the good it did. Neither of these posh firms spotted anything amiss in the accounts, or if they did they kept quiet about it. I liked this quote, from an anonymous City lawyer, in the Sunday Times:
The accounting firms are all trembling in the corner, just waiting for someone to start asking these very awkward questions. The accounts of all these banks were signed off no problem last year.
Apparently, the boys and girls at the Serious Fraud Office are looking for Sir Allen’s London based accountants who, mysteriously, seem to have disappeared. I bet some of the folk at Salisbury Square and New Street Square wish they could do the same.