ISX had it's books independently audited. That's already happened. Unless you think that audit fees from a small cap is worth Grant Thornton compromising its reputation? (Which makes no sense).
ASX could direct ISX to appoint an independent auditor of it's choice to confirm legitimacy of the revenue. Why didn't they ask for one in their directions? Are they afraid of the outcome? Therein lies the bigger question.
Instead ASX have embarked on another fishing expedition, hoping to find another 'reason' to justify their suspension. I think we can all read the breadcrumb trail... ISX will have to remediate minor infractions and ASX will have only one bullet left (the ASIC investigation)....
ISX Price at posting:
$1.07 Sentiment: None Disclosure: Held
