When highly qualified and effective auditors disagree with a CEO whose highest qualification is CQT [Close Quarter Combat] it is going to be an interesting standoff. At the end of the day, the auditors always win. We saw this last year where it took nearly a year for shareholders to get their final accounts & AGM.
This year's final accounts were due last Friday. It is now Thursday and PPN is suspended again. So who is going to pay the fines, charges etc? The long suffering shareholders of course. Apparently there is some disagreement between the CEO and the Auditor over what should be included in PPN's taxable income. I'll put my bet on the Auditor being right again.
Apparently our CEO was been in Bali last week. He really needs to be here devoting all his attention to sorting out PPN's problems. The VCAT trial recommences on Monday 8 October, so the CEO might be back for that.
board versus the auditor
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