Nice accounting lads! Who approved and authorised these...

Nice accounting lads! Who approved and authorised these transactions? They weren't one-offs; there were a series of them. And where were the auditors when you need them?

imo deception with a capital D

Now that a project cost has become a receivable, is any interest payable on the "loan"? Were the services rendered by the yacht company at market value? What were the services? More disclosure is appropriate.

Is the FBT brigade in the ATO involved yet?

Not a good look is it