I have gone back and re-read Ousia's post. Payment terms are 30-90 days after issuance date of invoice which is quite generous but that is another story. In order for the China receivables NOT to have been recorded as past due in the accounts in Note 13 Trade and Other Receivables, the earliest the invoice could have been issued was 1 April 2009 (April Fool's day, or just another strange coincidence). This is because receivables ageing is done on the balance date of 30 June 2009, and not the date the accounts were issued i.e. 30 September 2009.
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- the auditor should take some blame
the auditor should take some blame, page-23
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