"No, who you should be questioning is the management of ISX that...

"No, who you should be questioning is the management of ISX that allowed themselves to be put in a position to be sued by ASIC."

Really? Any motivated person can write a "credible" report on any listed company and it is very likely that for most companies, issues will be found that will require the regulator's attention.

It's how the report is framed and how people interpret it that matters. The problem here is not ASIC's investigation but ASX suspending the company unfairly. Investigations can be done without providing running commentary; not until adequate evidence of wrongdoing has been collected. ASX only did this to harm ISX.