this is not a good look... - an extension of suspension to a...

this is not a good look...
- an extension of suspension to a 'convenient' date rather than to a deliberate debate.
- inability to publish statutory accounts until conclusion of 'operational audit'

Given no statutory accounts until further notice, it would be fair to conclude that there will inescapably be either (...or both maybe ...):
- a qualified audit opinion on the basis of disagreement or inability to gather sufficient evidence as to balances;
- a significant write down of assets possibly because of non-performance or more likely, misappropriation

I think describing it as an 'operational audit' is way to shallow and/or dismissive. Indeed, in the fullness of time, I expect this description will prove to be misleading.

I can only assume that nil criminal investigations are underway as I think directors have an obligation to report these. Regardless, I am now becoming increasingly concerned that a systemic problem for at least 8 months has gone undetected by the existing board of directors and senior management. Where this becomes a real problem is that the review is being orchestrated by the current board of directors.

This is more than a customary land squabble ...

bugger bugger bugger!