Old GAAP used on accounts as at 31/12/2016

Which is correct?

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Hi all,

I have a set of accounts I've reviewed and they've been prepared under the old GAAP and not using FRS, year ended 31/12/2016.

I've made the observation to the directors that the incorrect standard is being used and been told "we're signing them anyway, we don't want an arguement with those who have prepared them,  they report into a much bigger structure and these serve fine for our purposes."

What can I do about this and are these officaly a signed set of accounts?

edit to add, Isle of Man company, act 1931-2004

Replies (4)

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RLI
By lionofludesch
25th Jul 2017 13:50

Complain to Companies House ?

The chances of them noticing are so much better if you draw their attention to it.

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Replying to lionofludesch:
By Ruddles
25th Jul 2017 14:23

Given the cr@p that Companies House accept (unless the signatures are the wrong shade of black) what makes you think that they give a toss as to which accounting standards have been used in preparing the accounts?

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Replying to Ruddles:
RLI
By lionofludesch
25th Jul 2017 14:29

I actually think that they do care but the four staff they have doing the checking are insufficient to cover the millions of companies doing the filing.

Online filing hasn't helped. Nobody has to look at or handle this information to put it on file.

Making a complaint and demanding a response is much more likely to get some action.

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By Jonathon
25th Jul 2017 14:11

Sorry I should have said this is an Isle of Man company, 1931-2004 Act.

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