Class action possible?, page-39

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Winter08

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26/05/18

11:31

Post #: 33319243
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Originally posted by Dg573974 ↑

Not questioning your expertise as you know what your are talking about and I appreciate all of your input on these forums. I have learned a lot from your comments.

My question comes to mind - logically speaking how could an auditor have indemnity against improper business practices?
An auditor would be taught what best practice is and know what isn't and therefore any act outside of that (as broad as it probably is) could be potentially argued as acting with intent.

So talking along those lines, plenty of carrots, no stick!

I am not alleging that that is what has happened but experts who deal with corporate books are qualified to do so and paid accordingly and as such should be able to work to all edges of their expertise which includes all aspects of 'health checks' of a business which includes money coming and going and how!...otherwise you could argue that it doesn't take experts to do the job, which is certainly not the case.

But with this kind of oversight how could any investor trust any companies moving forward?

It seems the difference between a successful company and a complete implosion these days on the ASX comes down to how creative the information is packaged to the market and for how long they can keep the party rolling.

Plenty of rambling here and maybe not a lot of sense. lol.

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Same reason doctors have indemnity insurance. Getting paid for your professional opinion and people make mistakes. Even if it’s found you haven’t been negligent people may think you have and legal costs can be huge.

BIG Price at posting: $2.22 Sentiment: None Disclosure: Held
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Class action possible?, page-39

Top Stories

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

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