There may be some truth to some of what is being said but it would be nice if some things were more fully reported.
Deed of Cross Guarantee seems to be misunderstood by anyone from overseas - it would not take long for someone to the look at the ASX top 50 or top 100 and see how many companies use them. Without having done this exercise I would expect more than half would use a Deed of Cross Guarantee. Even still I believe it is misleading to suggest that this is a way to avoid audit scrutiny.
Capitalisation of development costs - commentary here seems to avoid the obvious that there are significant differences between US GAP and IFRS. Once again if you did a study of ASX listed IT companies you would find most capitalise development costs as is required (not optional) under IFRS. I looked at half a dozen companies a couple of years ago and the only one that didn't was Altium.
WTC Price at posting:
$23.23 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)