The problem is that in 2013 Apollo said it would pay $US 2...

The problem is that in 2013 Apollo said it would pay $US 2 million to EVM by the end of 2013.

EVM booked this as Deferred Income with a corresponding Current Account Receivable entry, as EVM thought the money was about to arrive. This Receivables entry is an EVM asset on the EVM balance sheet.

The problem EVM has is that a "Current Receivable" is one where you expect the payment to be received in 12 months. That is what the "current" means.

It is possible the auditors are saying the Apollo saga has gone on for so long that EVM can no longer keep the owned money as a "Current" Asset and need to either right the debt off or do something else with it. If this happens EVM will also need to remove the Deferred Income from the balance sheet leaving a very thin balance sheet.

The problem has nothing to do with Carrying Value. It is likely to be around "Accounts Receivables" and how long unpaid debts can remain as a current asset on the balance sheet.

We will see.