Ann: Half Year Report and Accounts - 31 December 2017, page-14

So it was the Accounting Standards fault. Interesting.

So now ASIC / regulators need to decide, do they let BIG use the excuse that the standard was the reason for the discrepancies or not.

Someone needs to win this one, either its BIG Directors or its regulators. If its the Directors what does this say about every company's Accounts on the ASX that has used the previous standards? Do they all need to be audited to make sure they didn't use this apparent loop hole or were mis led by the poor quality of the standards? Alternatively did the Directors know what they were doing the entire time and the previous standards were not the fault.

Not really sure what else the Directors could have done, except not hand in the accounts and go to court and perhaps leave the country. Hard to say what I would have done tbh...

Does make me wonder is there a chance that they just made a series of ridiculous mistakes? Publishing those accounts and standing by the company sure is brave.

Time will tell.