TomWinnifrith
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IFRS 17

115 days ago

GOTCHA!: Alpha Growth increased losses as historic accounts are materially restated thanks to old TW

Alpha Growth (ALGW) delisted from the Main Market following an accounting debacle where its auditors PKF Littlejohn disclaimed their opinion on the accounts citing Alpha’s failure to properly evaluate whether some of the life insurance contracts it subsidiaries issued were required to be accounted for under IFRS 17 Insurance Contracts.

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586 days ago

GOTCHA: Alpha Growth - 2023 accounts to be restated in due course

Yesterday, I published a letter from the Financial Reporting Council thanking me for bringing to its attention the issue that Alpha Gr4wth (ALGW) was not consolidating its insurance subsidiaries properly in the accounts for the year ended 31 December 2022. Following the FRC’s review, Alpha when it is issued its 2023 accounts restated the 2022 comparatives to rectify its previous incorrect accounting treatment.
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617 days ago

Alpha Growth - challenges awaiting incoming auditor

In my weekend GOTCHA article I noted that Alpha Growth (ALGW) was shy in naming its new auditors which its has had over 8 months to sort out. On further reflection perhaps I was being too generous, I blame the Christmas spirit. Perhaps, the absence of a named firm is because no appointment has yet been made and the change in year end was a kick the can down the road exercise until it can find a new auditor. As I note below Alpha faces some real challenges in finding an auditor due to the following:
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