Tag Archives: Audit


The Reverend Rees continues his rudderless rule of the city with another useless decision that reeks of gormless establishment backscratching and favours returned.

Our spies inform us that the vicar has now accepted a senior management staff secondment to his crappy CITY OFFICE from notorious public sector troughers and one of the world’s most useless audit firms – corporate accountants and Labour Party donors KPMG.

This latest unaccountable jobbing consultant with a recently purchased MBA to roll up at Bristol City Council is coming FREE OF CHARGE from the corporate beast to advise the Reverend on “public sector reform” or “vicious public sector cuts delivered in impenetrable management jargon” as it’s also known.

So look out for claims coming soon that lots of our money can be saved by replacing frontline staff and services with some absurd overpriced techno-fix available only from a pricey but well-placed corporate supplier. A recommendation that we employ even more management consultants – such as those available from KPMG – to interpret all their bullshit for us and implement their shite plans is also HIGHLY LIKELY.

KPMG are a “disconcertingly COMPLACENT” firm according to Parliament. As one of the so called “big four” global audit firms, they FAILED to notice that the banks they were auditing – including the notorious HBOS – were effectively INSOLVENT in the lead-up to the financial collapse of 2008.

Although, before this crisis unfolded, these auditors did manage to collect extremely LARGE FEES from those very same banks for audit work and for large amounts of additional “consultancy work”. Some would say this represented a blatant CONFLICT OF INTEREST with the notion of “independent” audit work as firms were auditing the results of their own advice and inevitably deciding that all was well!

KPMG received £55.8m in audit fees and £45.1m in non-audit fees from HBOS in the period before the financial crash in 2008. They also managed to produce an “independent” report claiming a whistleblower, HBOS’s group head of regulatory risk, Paul Moore’s concerns were “WITHOUT MERIT” shortly before the bank financially collapsed!

More recently, the Financial Reporting Council (FRC) has started investigating KPMG over their audits of the financial statements of Rolls-Royce between 2010 and 2013. The engine-maker has recently admitted it FALSIFIED accounts to commit a string of BRIBERY and CORRUPTION offences during this period and has agreed to pay £671 million to settle claims and avoid prosecution. Blatant criminal activity, alas, that the brilliant and highly-skilled staff of KPMG totally failed to spot!

Why on Earth is the Reverend giving this shower of shit house room at our council?


Web ExclusiveThe pressure is really beginning to show on George, MAYOR LOONYPANTS isn’t it? He’s now decided that the council’s external auditors GRANT THORNTON, the sixth largest accountancy firm in the world, are running “politically motivated smears” against him.

This unlikely scenario seems to result from Grant Thornton’s recently published audit findings (see also The BRISTOLIAN #4.8), which said,

Review of the Mayor’s declarations of interest found a number of organisations with which the Council have had interaction which have not been included within the related parties transactions note.
Or, in other words, MAYOR UNDERPRESSUREPANTS hasn’t declared all his interests as he’s legally bound to do. A subsequent light grilling of BARMYTROUSERS on Twitter regarding this tricky matter elicited the following response:

Now, we appreciate that large accountancy firms aren’t the most thorough or honest of organisations but would they really make this stuff up and risk their reputation just to smear a ridiculous little posh man from Bristol? And if it weren’t true and it’s “Everything declared, nothing to hide. End of story!” why has such a claim been made by this reputable source and included and signed-off in the audited accounts for 2012-13 of Bristol City Council?

What’s true? A set of formal, official on-the-record public accounts or the Saturday morning Twitter ramblings of a posh twit with a problematic relationship to the truth?