YP Letters: Why do business leaders back EU’s shabby accounting?

The EU accounts remain unaudited.
The EU accounts remain unaudited.
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From: Alan K Biggin FCA, Chartered Accountant, Director Bradford City Football Club Ltd, Bostocks Boyce Welch, Wade House Road, Shelf.

WITH reference to David Cameron’s determination for the UK to remain in the EU despite the many obvious contradictions that continue to surface against our continued membership, I am ashamed and despair at the conduct used to bludgeon through an acquiescent “Remain” vote. Don’t politicians and business leaders have any sense of morality or integrity anymore?

It is common knowledge that the European Union’s financial statements have never been approved by the European Court of Auditors over a period of 20 years. Each year the auditors state that these figures are “affected by material errors, are unverifiable and could be materially misspent”. They do not represent a “true and fair view”, and cannot be approved by the auditors.

Needless to say certain members, including ourselves, have voted against adoption of these accounts, but such protests have been ignored with typical EU disdain and the figures adopted by a majority.

Now the public at large may not fully appreciate this damning reality but to put this in perspective, the Government is asking the country to continue to invest in a very large organisation that is profoundly fraudulent and corrupt. Should the gauleiters who run this Union ever allow the truth to be revealed (which they won’t of course), then I am afraid Fifa misdemeanours, by comparison, would be a children’s tea party. This is the biggest confidence trick since Eve took a bite of that tempting, succulent apple.

Should for example, a stock exchange quoted company have accounts prepared in this unbelievably cavalier fashion, its shares would be suspended and it would have to suffer severe penalties. If this is continued, as with the EU, it would be thrown out and very likely with the probability of criminal prosecution.

Can you tell me why anyone in his right mind would want to invest in such an entity? This, of course, further begs the question why a minority of chairmen of certain major companies are busy encouraging us to stay in the EU knowing as they must do what the reality is.

Are these “captains of industry”, so dismissive of audits that they think it is a waste of time? It makes me consider how this attitude reflects on their own companies all of which are quoted of course. It would appear that they are not showing the level of probity one would expect.