AGM decisions, page-31

The APG company secretary - or the KPMG auditor for the annual accounts  -  is suffering from the worst case of dyslexia I have ever heard off.  
Both are looking at Austpac's bank statement, for the same date – and seeing a completely different figure.

APG company secretary, Nick Gaston looks at the company bank statement for 30/6/2018 and see’s a balance of $118,000
Nick Gaston has signed off in the last Quarterly Report to 30 June 2018 – Appendix 5B –
4.6 Cash & cash equivalents as at 30/6/2018 =   $118,000
   He has further clarified, in the Appendix 5B  report, that this cash comprises of:
5.1 Bank Deposits   = $118,000   


APG company auditor, KPMG looks at the company bank statement for 30/6/2018 and see’s a balance of only $29,155
KPMG has signed off in the recently Audited Statutory Financial Statements to 30 June 2018 – Statement of Cash Flows
Cash & cash equivalents as at 30/6/2018 =   $29,155
The auditor has further clarified, in Notes to the Financial Statements that this cash comprises of:
Note8. Bank Deposits    = $29,155


With the cash balance reported by the APG secretary ($118,000) being over 400% higher, than the cash balance reported by the auditor ($29,155) – this should be of great concern to shareholders and the APG board of directors.

Wilcox

False 9 – do you think this 400% error is “material” enough to warrant a explanation to shareholders, at the AGM, from someone on the APG Audit committee ??