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Is PKF LittleJohn culpable in the Braveheart farce… an accountant opines

By Tom Winnifrith, the Sheriff of AIM | Thursday 16 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I warned that the stated NAV of Braveheart (BRH) was pure fiction on 17 October 2023 on the basis that Paraytech which it valued at £3.04 million, and which also owed it £1.44 million in loans needed to keep its lights on, was technically insolvent. Yesterday Braveheart admitted that I was right and wrote the whole lot off. So was auditor PKF Littlejohn negligent? An auditor writes:
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