motley fool - gsw valued at 60c, page-33

It's not just the risk of lawsuit either, there is a lot to play out at the board level.

I'll keep this very vanilla.

Accountants are required by law to report all known and suspected breaches of the Corporations Act to ASIC.

I assume there is already 2 uncovered through the initial and final director declarations issued yesterday.

As PwC goes through this over the next few weeks there may be more.

I'm not going to speculate on seriousness, guilt or outcomes, but ASIC will review those reported breaches and has the power to take action against directors if they see fit.