Ann: Market update, page-4

Auditing Standard 706:
This Auditing Standard deals with additional communication in the auditor’s report when the auditor considers it necessary to: (a) Draw users’ attention to a matter or matters presented or disclosed in the financial report that are of such importance that they are fundamental to users’ understanding of the financial report.
It should have been applied for the June 30 2018 accounts and will very definitely be required for the December 2018 accounts.
NPV of the Trail Commission asset will need to be written down by 50% +
I feel a class action coming on.