APG 0.00% 0.2¢ austpac resources nl

The APG company secretary - or the KPMG auditor for the annual...

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    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 ??
 
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