the auditor should take some blame, page-25

Agreed Vibemaster, the reason the China invoice could have been issued on 30 June 2009, so even if by 30 September 2009 no payment had been received, Dykes could say the payment terms were 30-90 days so the invoice was not overdue according to their policy and hence the outstanding amount did not require a provision for bad debts. Management were probably hoping to clean up the accounts/overdues after year end once the accounts had been issued.

The reason I stated the earliest the invoice could have been issued was 1st April was because Nex$ was asking "how can Ousia confidently state invoice went out on last business day of accounting year?" We can't be sure that the invoice was issued on the last business day of the year although that is the suspicion here but we can be sure that the earliest the invoice was raised was 1st April due to the ageing analysis.