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Letter to the Financial Reporting Council: Parkmead Group breach of IFRS 9

By Tom Winnifrith | Monday 23 September 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.


There are some folks out there who think that I am a bit of a pedant. “It’s only a small breach of the rules, can’t TW@ see the bigger picture” goes out the refrain from the Bulletin Board savants before they start talking about working in a pizza store, stealing £100,000, trying to bring down great British companies, just being jealous, etc, etc. But rules are rules for a reason and I have been in touch with my good pals at the FRC, regarding the improper treatment of soft related party loans and breaches of IFRS 9 at Parkmead Group (PMG)
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