Ann: HOTUpdate-Corporate Spotlight offering with Big Review TV Li, page-148

So you send confirmation notices to Afterpay - we all know you don't because the debtor has an arrangement with Afterpay. The customer arranges finance and the finance company pays the supplier to avoid the customer financing from more than one finance company. Had they not as yet received payment I think it would have been different.

Where is the need for confirmation you have received payment no-one owes you anything that is the catch! The explanation is that we arrange for the customer to get finance and they settle us directly... Car dealership very similar... However, the full nature of the agreement is disclosed some parties are not necessarily that honest or have good intentions.

Let's not give people the idea that an audit is a full check on the records no-one certifies it as true and fair anymore. Audit failures have popped back up in the spotlight over the past few years. We all know about Enron but there are many more and we are listening to a banking royal commission where we are appalled that some customers got charged for things they did not get but it wasn't material to the banking system and the audit probably never even saw the errors. Please don't let us pretend that we are not misled during audits and that it's not a sample approach with sophisticated reviews. We had a standard policy not to confirm as there was no benefit for us to confirm or do thew work to reconcile.

The word audit makes it sound far more powerful than it often is.