Accountants will always offer you ways to reduce your tax liability and use Generally Accepted Accounting Principles (GAAPs) to create a different view on the stability of a company.
I always recall that in the 1950s McDonalds were trying to create their hamburger chain, but their turnover was too small to borrow against. One of their directors (Sonneheim, I think his name was) used GAAPS to develop the franchise model they now use. McD's bottom line increased by something amazing like 1000% literally overnight!
However, it is completely different about creating legal accounts. They have to see bank accounts. They have to see the sourc of any funds. They have to see proof of how the money was spent.
Didn't Hunt say TTFF received $80 million since 2006 from govt? I presume that was included in the $173 million that the govt declared, but I'm sure some came after the $173 million. We know TTFF didn't get charged a stadium fee for the WC matches. They also received money from FIFA and CONCACAF.
So KPMG have proof of all of this income, but may not have proof of how it was received by TTFF. Remember, Jack has been accused of having match fees paid directly to him. How would that be accounted for. Jack has also said he has spent personal money on coaches fees etc and remortgaged a property? How would that be accounted?
Finally, Jack is not part of TTFF, so technically, anything he has done has nothing to do with KPMG. This could be the problem KPMG have got. If they have proof of money being spent in excess of money received, where did it come from?
It must be a complete mess. But they cannot submit accounts until their client has signed them off!