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Financial irregularities


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As I suggested it's come as a result of our annual audit & financial report process

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St Mirren Football Club can confirm that following the annual audit process where several historic issues were highlighted, both SMISA and Kibble representatives tabled a report with a recommended course of action. Subsequently these recommendations were approved at the November Board meeting and the Board of Directors initiated contact with relevant authorities.

These actions will facilitate that going forward all aspects of the club’s business practices are strong, compliant and transparent to all, whilst ensuring they meet the highest level possible to ensure the club’s reputation is utterly beyond reproach. The club has moved swiftly to appoint a highly reputable firm of accountants to carry out a thorough forensic review of its operations to allow for any required action to be acted upon. St Mirren football Club will co-operate fully in all aspects of the process and with all relevant authorities.

Tony Fitzpatrick, Chief Executive said: "The Club has taken these steps to ensure that we continue to operate on a sound and compliant financial basis. I would also like to put on record our appreciation of the invaluable work, continued commitment and support of our club accountant in this matter. Fans can be confident that all actions taken are in the best interest of St Mirren to ensure it continues to be a club of which our supporters can be proud."

We can reassure supporters that the club continues to operate strongly in the current pandemic climate and our club remains in a healthy and robust financial position.

 

Edited by Bud the Baker
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Sounds like as part of the Kibble due diligence they want to avoid any bad publicity that could be associated with the club. 

It is possible that then now are undertaking checks to ensure that all suppliers of SMFC related products are following the same rules and found some discrepancies.

I suspect that at least one supplier/contracted company pay cash in hand.

Is it possible that through this due diligence we will see the end to some long term contracts and a nice space for the Kibble to fill that gap.

 

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1 minute ago, Brilliant Disguise said:

Sounds like as part of the Kibble due diligence they want to avoid any bad publicity that could be associated with the club. 

It is possible that then now are undertaking checks to ensure that all suppliers of SMFC related products are following the same rules and found some discrepancies.

I suspect that at least one supplier/contracted company pay cash in hand.

Is it possible that through this due diligence we will see the end to some long term contracts and a nice space for the Kibble to fill that gap.

 

Kibble are the new factor this year...

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I've got to say right from the off I was not happy with Kibbles involvement. There was rumours about Jim Gillespie wanting a artificial pith at SMP. So his kids can run about the stadium. What St.Mirren is first and last is a professional football club. And the first team and academy are its priority. Being involved in the community is a great thing IMO. And St.Mirren been a great community club. Buts a secondary issue. Hope it gets sorted soon. I'm sure it will.

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3 minutes ago, santaponsasaint said:

I've got to say right from the off I was not happy with Kibbles involvement. There was rumours about Jim Gillespie wanting a artificial pith at SMP. So his kids can run about the stadium. What St.Mirren is first and last is a professional football club. And the first team and academy are its priority. Being involved in the community is a great thing IMO. And St.Mirren been a great community club. Buts a secondary issue. Hope it gets sorted soon. I'm sure it will.

This has probably got nothing to do with the Kibble. 

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4 minutes ago, santaponsasaint said:

I've got to say right from the off I was not happy with Kibbles involvement. There was rumours about Jim Gillespie wanting a artificial pith at SMP. So his kids can run about the stadium. What St.Mirren is first and last is a professional football club. And the first team and academy are its priority. Being involved in the community is a great thing IMO. And St.Mirren been a great community club. Buts a secondary issue. Hope it gets sorted soon. I'm sure it will.

So what is it Kibble have done wrong? Your credibility really goes down the pan with your stupid and immature comment about the artificial pitch!!

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44 minutes ago, Brilliant Disguise said:

Sounds like as part of the Kibble due diligence they want to avoid any bad publicity that could be associated with the club. 

It is possible that then now are undertaking checks to ensure that all suppliers of SMFC related products are following the same rules and found some discrepancies.

I suspect that at least one supplier/contracted company pay cash in hand.

Is it possible that through this due diligence we will see the end to some long term contracts and a nice space for the Kibble to fill that gap.

 

What has this to do with SMFC? We pay suppliers in good faith and cant be held accountable if they, in turn, pull a fast one.

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40 minutes ago, Brilliant Disguise said:

Exactly.

The club accounts and running is the same this year as every other year. The Kibble have obviously found something THEY don’t like

I have my own suspicion what this is about. Let’s see when fans are back what suppliers are replaced

But you would only involve Police if there is fraud going on

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So what is it Kibble have done wrong? Your credibility really goes down the pan with your stupid and immature comment about the artificial pitch!!

I never said the kibble done anything. Your reading between the lines and coming up with your own answer. For my own reason I said I wasn't happy with them being involved. Never once did I say they were up to anything illegal. Or anything else. And yes I'm totally against plastic pitch being installed at SMP.

 

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2 hours ago, portmahomack saint said:

Someone should contact LPM  :rolleyes:  he'll get to the bottom of it, 

Can see a 60 page debate with Bazil coming 

It does have the feel of a trigger event for an LPM revival or a new Dickson username after his 18th and final retirement from BAWA wasn't quite so final... 🤣 

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21 minutes ago, saint in exile said:

What has this to do with SMFC? We pay suppliers in good faith and cant be held accountable if they, in turn, pull a fast one.

Correct professionally is has nothing to do with SMFC. Provided this is the case.

However if one of your suppliers for example pays cash in hand to avoid PAYE, Corporation tax etc and you have knowledge of it or is doing on your premises then you are complicit in their crime.

An example of due diligence that has nothing to do with the current newspaper article. If your company signs up to the Living Wage Accreditation then you must ensure that not only your own staff but all of your suppliers staff who serve you are also on the living wage. The article sounds like this sort of practice is being looked at.

 

As stated lets see what changes are implemented as this is where the issue has come from.

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19 minutes ago, santaponsasaint said:

I never said the kibble done anything. Your reading between the lines and coming up with your own answer. For my own reason I said I wasn't happy with them being involved. Never once did I say they were up to anything illegal. Or anything else. And yes I'm totally against plastic pitch being installed at SMP.

 

But you are happy to spread a RUMOUR that the CEO of Kibble wants an artificial pitch at the ground so his kids can run around the stadium? Have you any idea how utterly ridiculous you sound?

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The alleged discrepancies are described as historical so Kibble could not have been involved.  Also, the discrepancies were highlighted during the audit process with which Kibble cannot be involved.  The audit must be undertaken by a completely independent firm, with no ties to any of the the directors, board appointed members or employees.  Some of the posts above should be signed Donald Trump!!!!

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37 minutes ago, santaponsasaint said:
1 hour ago, Mr Optimistic said:
But you are happy to spread a RUMOUR that the CEO of Kibble wants an artificial pitch at the ground so his kids can run around the stadium? Have you any idea how utterly ridiculous you sound?

Go away ya boring clown. I explained to you once. Thats enough.

 When the argument is well and truly lost resort to abuse. Have a good day 👍

 

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1 hour ago, Mr Optimistic said:

 When the argument is well and truly lost resort to abuse. Have a good day 👍

 

Did SPS not explain the point to you once before?

 

If that is true then you have brought shame upon the forum, shame upon the internet, shame upon society and shame upon yourself, shame upon the forum, the internet, society and yourself indeed.

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