BusinessCompany NewsKPMG red flags John Charcol

KPMG red flags John Charcol

Auditors warn of material uncertainty at Britain's biggest independent mortgage broker

Backers at Britain’s largest independent mortgage broker John Charcol have
forked out £1.5m as KPMG warned of a material uncertainty that it can continue
as a going concern.

The company,
which is considering a sell-off after being approached by two potential buyers,
said that the injection of cash was always intended and not linked to KPMG’s
assessment.

KPMG added: ‘The group incurred a net loss of £41,000 during the year ended
31 December 2006 and at that date the parent company’s current liabilities
exceeded its current assets by £150,000.’

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