Any sustainable business model, with building brand awareness and recognition shouldn’t be undertaking these revenue recognition (shelf stuffing) practices, unless there are other motives..ie performance incentives. FY21 clearly shows who has their snouts in our trough CFO must go unłess she can clearly demonstrate that the CEO, BOD, esp BOD audit and risk ok’d this practice, which shows a weak and incompetent CFO. Independent audit, done by graduates with green ink pens, reading prior years audit report and findings before conducting the audit. Like robots, the same findings are made year after year as there are no real independent eyes looking through the books. Like all companies, BWX would have been leading the “independent audit horse” to their cool aid trough, as the graduates have zero real world experience to see shelf stuffing as an issue. Audit companies charge out these graduates at ridiculous rates, just another snout in our trough. BWX announces a change in revenue recognition and the auditors running for cover. ASIC
BWX Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held
