Smith is an auditor (ex-KPMG or PWC or someone like that), and it's pretty much his job to spot this stuff. In theory, the end of year audit should be clean. I don't know how true that is in practice - regardless of anything else, auditors make mistakes.
I don't know what's required here to cut out the crap, but I'd love to see a couple of seasons go by without a club going boom.
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