In our recent survey, we found that ‘reassessing business risk’ was one of the first actions that organisations were taking post-lockdown. But what does this mean in reality and in what areas of risk can the finance team exert an influence? This article sets out a few considerations.Continue reading “Managing risk within Finance”
Back in May 2019, the market told us what Thomas Cook accountant’s and financial reports were not prepared to say, “According to Citigroup, Thomas Cook’s tour operations and airline are worth £738m, but its debt is around the same “and implies zero equity value”.
It was effectively worthless, and so were the financial reports that went with the “material uncertainty” statement and £1.5bn half year loss.
So is this the death knell for traditional financial reporting, or do we carry on regardless?