[Marbot]

Originally Posted by chillibowl

its not the FIA that they would have to answer too. its the shareholders of those corporations who would want answers. they already prepare very detailed audited financials which are then scrutinized by major investors. asking them to hide costs associated with their F1 team would expose them to major crimes that would very likely land them in jail for violating their oaths as responsible corporate officers.

not saying that there aren't those that wouldn't stoop to that level but just saying that its more than the FIA they would have to answer too. F1 being a monopoly sport they would probably find themselves in an EU anti trust court and they have significantly more authority...and then the tax man will come knocking.

the framework for auditing companies is already in place at all levels of gov't. all that needs to happen is for the teams to agree on both a level and a system of penalties for violators. thats the problem and not a forensic accounting firms ability to get to the bottom of it.