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$1.07 southern cross payments ltd

So giving ISX the benefit of the doubt is to say there is an...

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UncleDuck

151 Posts.

39

13/07/20

23:36

Post #: 45839106
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Originally posted by Senseightynine: ↑

to give isx the benefit of the doubt they have been audited by Grant Thornton for a number of years. A financial audit is not fool proof, and I think a mid tier firm like Grant thornton likely won't have as high quality as a big4 hence this issue may have been missed by GT, particularly when ISX was a micro cap back when the performance shares were granted.

there is constant news in Australia and internationally about poor audit quality so it wouldn't surprise me if there is a historical issue with revenue recognition, particularly when the margin was only a few thousand dollars that they met that last hurdle.

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So giving ISX the benefit of the doubt is to say there is an issue because they did the dodgy and auditors constantly get it wrong........ doesn't sound the giving the benefit if the doubt to me.

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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