Counsel's opinion, page-11

"They can't take legal action if they are forced to change accounting ,standards that's nonsense & they won't."

Hey, hey...I am NOT inferring this at all...never have!

But as a number of Australian governments have discovered, under the Westminster system utimately everything is decided by the legal structure. Heck, how many politicians were forced to resign because of a High Court ruling. If and it is an unlikely 'if' PNC suffered commercial damage they have a right to seek recompense...pure and simple.

As to an opinion from KPMG...we coudn't even get one from the current auditor. Simply hands in the air and 'I don't know because not enough data'

Wouldn't it be more appropriate if the accounting standards board themselves came out and turned 'grey' into either black or white. And whilst talkng about this group...what about getting them to draw the line on some of the ridiculous reportings happening now. Underlying profits and the rest of the palava are making it difficult for investors to understand what is happening.

End of...for me. I am restating my reliance on operational cash being the great interpreter of whether PNC is profitable and likely to be profitable going forward.