*OFFICIAL* Kitchener Rangers 2012-13 Season Thread
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07-10-2012, 03:15 PM
Join Date: Mar 2008
Originally Posted by
A typical set of financial statements provides a balance sheet, income statement and statement of changes in finacial position.
Without having seen the Ranger's statements, not sure if STH's even get notes with those statemenets. Unless something untoward is suggested at shareholder's meeting (typically why would there be?), an "investigation" as you call it of audited statements is unlikely to not going to happen.
What do the Rangers gross in Revenues in any fiscal year $5M? $200k on that can easily fall into a "Promotions account."
Personally I don't see it happening, but suggesting that because audited statements are provided to STH's is proof enough, is naiive.
An investigation will certainly occur in the event their lawsuit against the Michigan Daily and the writer takes off, in the event the writers sources have any credibility, hence my suggestion that they wouldnt air their dirty laundry if they knew it stank.
You are right, $200,000 can fall into X account quite easily, but how was it spent, wheres the receipt?
The Rangers financial's are simply audited, that is all. I'm suggesting that if this lawsuit turns into anything, and the unnamed sources are proven to be legitiment, you can bet the Rangers will have their financials over the past few season heavily examined at the request of the STH as well as the CHL, not to mention the Government.
Also, I never said audited statements is "Proof enough", I said that audited statements are the opposite, and in any case like the one the Rangers are pursueing, they arent going to offer up their audited statements for further disection by an investigative accountant (I.e. not an auditor) if the sources turn to be legitiment.
Thats my point.
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