BIG 0.00% $2.22 big un limited

Relist -When??, page-43

  1. 213 Posts.
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    @e7dem

    Your post suggests you understand little of investing. I hope you reconsider before you lose more capital.

    1) Having an auditor sign off on your accounts does not make a single part of them 'legal'. Do a quick google search of Enron / Lehman Bros / Sino Strategic (ASX:SSI) / any other public failure of the past 15 years and you will understand. Better yet, watch the Big Short and you can have an idea of what auditors can become / are capable of (when greed prevails) spoon fed to you. It's probably more your aligned with your learning style.

    2) Any first year finance student who takes Accounting 1 understands the difference between 'loans' and 'receipts'. Any company CFO or chartered accountant (I beleive BIG had both?) would understand where these both sit on the cash flow statement. And any first year finance student would also have an inkling of an idea that by misstating your accounts, you are breaking the rules.

    I presume that BIG's CFO, CA and auditors understood this - but I could be wrong.

    Again, please refer to the Enron / Lehman cases mentioned above if you're unsure of what I mean.

    3) I am not sure what you mean by your last point: 'pushing their luck'? It's as if you're admitting BIG is breaking the rules, but only because the ASX allows it. This sounds like Enron.

    Side note: SSI used Bentley's of Melbourne as their auditor, which is several tiers above the two-man operation the BIG is using. Go figure.
 
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