OCV octaviar limited

2015 a new page?????

  1. 7,867 Posts.
    Does not look like for OCV/PIF related paraphernalia!

    PIF demise of its trumpeted CA may well have been planted here:

    Briefly Business: KPMG, Westpac & St George, GE & Wizard, toothbrushes
    CRIKEY May 27, 2008 12:00AM

    "KPMG ideal host for a risk management conference. The Financial Review reported last Friday that “a large group of risk management specialists met in Sydney … to hear their firm’s experts speak on the latest trends in risk management.” The firm holding the conference was Australia’s second largest accountancy practice, KPMG. According to the Fin’s Mark Fenton-Jones, “risk management” in a financial services firm is about “ensuring that the services it provides are appropriate..... "

    And yes, there were decent observations made at the time:

    "Auditors beached without their bathers
    Date June 9, 2009 Adam Schwab
    Read more: http://www.theage.com.au/business/auditors-
    beached-without-their-bathers-20090608-c0vb.html#ixzz3Nz6oentc",

    but the wink-wink, nudge- nudge ruse prevailed:

    “Property Observer Jonathan Chancellor | 26 June 2014
    MFS Octaviar class action against accounting firm KPMG settled
    A class action by 2000 small MFS Octaviar unitholders against auditing and accounting firm KPMG has been settled out of court for a reported $20 million plus.
    (comment added: Not a bad risk, rob 2 billion; compensate with $20 million)
    In late 2009 ASIC commenced its own civil proceedings in the Supreme Court of Queensland against MFS Investment Management Ltd and four former officers and one manager of MFSIM.
    The proceedings relate to the use of $147.5 million in funds of the Premium Income Fund (PIF), for which MFSIM was the responsible entity at the relevant time."

    So 2015 provides ASIC with unfettered opportunity to prove
    how wrong their knockers were!

    Cheers,
 
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