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its interesting that you assume there is an error. Where is the...

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Scott th Ratbag

48,871 Posts.

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17/10/20

15:29

Post #: 48171255
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Originally posted by Senseightynine: ↑

This is from the Australian standard.

BDO disagreed with the timing of revenue recognition and you say this is no big deal at all? I thought a lot of the issue stem from the question around revenue recognition for the 30 June 2018 period for the revenue milestones? Important to note that BDO are under no obligation to review or provide any comfort in relation to the 30 June 2018 period (probably lucky for ISX!).

I'd say this is a big deal given the amount of times ISX has said that GT's has audited the financials before with no issues at all. Now BDO are saying there are historical issues.

Agreed on the UAB acquisition - this is in line with accounting standards as the acquisition was previously provisionally accounted for so this is not an error - it's just separating out goodwill and an intangible asset acquired. The revenue on the other hand are errors.

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its interesting that you assume there is an error. Where is the evidence that there is an error?

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