The Ambulance Chasers Are Coming?, page-13

You missed the point. VOC lied about how the FY17 guidance was constructed. VOC's FY17 Guidance back at FY16 AGM and again at 1H17 results assumed that revenues and EBITDA on certain new contracts with delivery terms of up to 24 years could all be recognised in FY17 and not over the term of the contract as had been the Accounting Policy inforce. That was the primary issue at hand. VOC eventually came clean on 2 May with the surprise downgrade, most of which related to this Accounting Error = misleading calculation. Fact