Also an excellent article in The Australian by Stephen Rice. To me, there was one (or three) staggering stats. ASIC regulates some 95000 companies but ONLY has some 2000 staff. In other words, a ratio of 1:47.
OK, some of the 2000 are admin, HR and bedwetters so what are the majority doing?? Bear in mind that only a modest proportion of those companies are going the fiddle. So the real ratio (for compliance) would be, say, 1:10 (top weight).
When we used to do really gritty compliance work in the ATO, we'd carry about 10 cases a year (remember, they were up to 6 year audits then by Asset Betterment).
According to the article, ASIC only investigates around 1% of cases. This is consistent with my comments previously. A seriously sheltered workshop. Irrespectively, a good day for team MSB. GLTAH Keith
MESO Nasdaq update, page-5490
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