Ann: Third Quarter Cashflow Report-APG.AX, page-26

I have a big issue with this statement:

"Obviously, 2 different Consolidated Statement of Cashflows, prepared by 2 different people ( Nick Gaston & the KPMG auditor)"

KMPG don't prepare any accounts as auditor. They audit them. That is a fundamentally different job, which means they are required to express an opinion as to accuracy of the financial statements prepared by APG/APG's accountants. The audit may result in questions to and amendments by management, but if creative accounting were suspected and detected, then it would be KPMG's obligation to express that in a qualified audit opinion.

Based on an unqualified audit report (assuming APG is a going concern, which is the material issue), then KPMG either aren't seeing any concerns around creative accounting OR (assuming your assertions are correct) are helping APG to hide any they have detected.

My belief is the former is more likely. However, it seems you remain convinced that their is creative accounting so its unlikely any further discussion of the matter is warranted. That's your conclusion, but its not the only conclusion that can be come to based on the facts.

I think there are certainly some tough questions for management and major issues in how this company has been governed/managed, but right now its accounts are not a big one for me.