Guess who the auditors of Whitehaven Coal are? Ernst and Young, of Aishwarya Venkatachalam scandal and Star Entertainment Group Megan Wilson audit fame?
So WHC audited by EY has just produced some unsettling financial results? You know where that leads.
Star audited by EY fell from over $5 AUD to about 97 cents today.
WHC a could have a similar trajectory.
Perhaos my previous market cap figure of $2 billion is overstated and over optimistic.
Is the cash at bank still there? Did EY audit it? Has WHC been treating every thing prudently?how bout their sent crises? Anti trust behavior?
Dividends would be better than buybacks. Buybacks imply the value can be retained. EY audited companies do not have a great history in that regard just look at the Star Entertainment Group scandal as an example.
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