Yes, that's what people are saying; can we trust their figure?...

Yes, that's what people are saying; can we trust their figure?

They did make a mistake in their book, and this should open up doubt about their accounting method, etc.

Having said that, those statement were done by Quindell, they have assessed with PP and they were ok with it, even with EY when they originally assessing the book. It is only recently that they realised they missed the treatment of the TAX, I think.

1 major thing to note is, the actual P/L (final result) didn't change. I can see why they may have missed it, but obviously that's inexcusable. That's not SGH fault though, blame those accounting firms if you must.

It is like you used a tax agent to do your tax, and they made a mistake. It is their mistake, but obviously it is your responsibility as you signed it. It is PP/EY's fault, but SGH has to take responsibility, no doubt.

But, this doesn't automatically imply that everything else is dodgy. It can be, who knows, but highly unlikely since they have done another audit. If they still make a mistake after another audit, they should just forget about hiring those big 4 accounting firms.