This will be interesting..
I have refrained from expressing my opinions on Vashi (Diamond manufacturers ltd) and their collapse but suffice to say that a look at their filed accounts and the record of their subsequent issues with creditors claims, demonstrated an alarming picture
Why was this? Anyone looking at the last file accounts now would see a healthy picture and as ever certain credit agencies actually gave the business a good rating.
The key with credit assessment is to look beyond the numbers. This works both ways, with filed accounts sometime not demonstrating a genuinely healthy outlook but when opposite is true, there are certain signals which should cause alarm or simply don’t weigh up
There has been a lot of talk about the quality of audits at corporate level lately and rightly so, but it’s also worth recalling the use of barely visible audit firms by Gupta before his conglomerates collapse. Read into that what you will
I can say a lot more and I believe this whole business will expand well beyond the liquidators remit.
We will be hearing a lot more
Cpcmcredit Blog 