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 OZschwitz billionaire doesn't obey biz laws - YaY!

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RR Phantom

RR Phantom

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PostSubject: OZschwitz billionaire doesn't obey biz laws - YaY!   OZschwitz billionaire doesn't obey biz laws - YaY! Icon_minitimeSun Jul 13, 2014 8:49 pm
Clive Palmer may be busy shaping the laws of the nation, but when it comes to obeying them, his flagship company is sadly lacking. An analysis of the accounts for Mineralogy Pty Ltd has identified a slew of irregularities. Some are technical, and are laid out in detail below.

OZschwitz billionaire doesn't obey biz laws - YaY! Art-848156904-620x349

Questions were put to Palmer and Mineralogy's auditors, Ernst & Young. Both declined to provide a meaningful response.

E&Y was appointed auditor of Mineralogy on June 30, 2009. There is no auditor previously mentioned in the filings with the Australian Securities and Investments Commission.

Nevertheless, the Mineralogy accounts for 2008 mysteriously claim that E&Y earned $49,500 a year before it was appointed to audit the company's accounts.

http://www.smh.com.au/business/books-fail-to-tell-the-full-clive-palmer-company-picture-20140713-3buzt.html
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