"The accounting rules need a rewrite to be very simple so that less of this BS goes on."
The Australian Auditing Standards must be complied with by every auditor. They are fairly straight forward (in accounting speak).
BIG's auditors appear to have chosen not to question cash receipts coming in from one source that being a financier. A review of the contracts between BIG and FC should have raised alarm bells.
Unless there was something more sinister at play.
Note that auditors pay big premiums for their professional liability insurance.
BIG Price at posting:
$2.22 Sentiment: None Disclosure: Not Held
