I'm not a lawyer, but I imagine ASIC has to try to #### on the...

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01/09/22

18:38

Post #: 63469725
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Originally posted by Rodeoshow: ↑

“Mr Taylor has been charged with five contraventions of the Corporations Act while Grant Thornton, as the authorised audit company, has also been charged with five contraventions, ASIC said.Grant Thornton was appointed as iSignthis’ statutory auditors for financial 2018. Mr Taylor was a director of Grant Thornton at the time, and ASIC alleges he was also responsible for the conduct of the audit. ASIC said the maximum penalty for each offence at the relative time was $10,500 for individuals and $52,500 for body corporates. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.”

Easy on the chartwheels pal they have to win first and the charges are denied....you don’t even know what the charges are firstly (could be any part of the audit). Are they challenging the performance shares being issued? They aren’t in the ISX court case.

Gee they look like powerful charges BTW. Am I reading this right, Brad could be up for a whopping 5 x 10,000 = $50,000 fine and Grant Thornton 5 x $52,000 = $250,000 fine. If that’s true I’ll try not to laugh.

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I'm not a lawyer, but I imagine ASIC has to try to #### on the Auditors before they can proceed pass go to the next stage in this saga. If the powers to be can't discredit the audit it makes the reasons for suspension much more difficult to sustain.

I can recall the auditor stating he stood by his audit when asked at a virtual AGM. Given the intense scrutiny of the performance shares at this time, I will be very surprised if the audit firm didn't check and re check they were on solid ground in respect to their work.

SP1 Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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I'm not a lawyer, but I imagine ASIC has to try to #### on the...

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