ISX 0.00% $1.07 isignthis ltd

Ann: Half Year Accounts, page-204

  1. 1,381 Posts.
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    1) Questions were raised in relation to revenue from day 1 by OM. ASX have also raised questions on revenue.. It's not just me.. have you been living under a rock?
    2) They can stand by it all they want, fact is there were material errors not picked up by them during the audit, which had to be fixed now.
    3) What's the conflict of interest exactly? Does anyone know? They were indeed sacked - by JK himself who put in the shareholder resolution.
    4) Adds to the story
    5) Standard practice amongst audit firms is for the predecessor to provide full access to the new incoming auditor. Why didn't GT do this with BDO? Is there something wrong with their audits perhaps? Does this have anything to do with the conflict of interest (which noone yet knows what the conflict of interest is..)
    6) Yep, and goes 100% against what ISX and GT's have previously said about their financials being audited and given a clean bill of health.. until now of course, when BDO come in and now the material error has been identified from historical audits and rectified
    7) Nope, not spin. This is a logical sequence of events which have unfolded. ISX cannot stand on the fact they have been audited in the past anymore, as it's been proven the audits were clearly deficient which resulted in these material errors having to be fixed now.
    8) If GT's picked up the errors then they would not have had to have been fixed now. THeir responsibility ends once they issue their audit report. If they identify any issues then they should be issuing a new set of financials and new audit report. They didn't because they didn't pick anything up. BDO did, hence the restatement of material error now.
    9) if you can't see how this is relevant at all then you haven't been following this story at all. THe fact you think i'm the only one raising questions about revenue of ISX only proves this point - when it all begun from OM's report around revenue. How embarrassing for you
 
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