New Board Proposal, page-36

Re:

What is the 'intent' of CR announced to asx (regulators) today.
ASX knows Gpp mgt did a CR & SPP 2 months ago.

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page 4

"Definition of fraud


So what exactly is fraud?

Well it may surprise you to know that , despite ASIC’s law enforcement role, there is no definition of fraud in the key legislation we administer – the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001.

However, perhaps the most useful description of fraud I have seen comes from an auditing standard that notes:


Fraud means an intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to
obtain an unjust or illegal advantage.


(Auditing Standard ASA 240T he auditor’s responsibilities relating to fraud in an audit of a financial report)

Just reflect for a moment on what a broad range of behaviours and misconduct that the term covers.

It is little wonder that many regulatory agencies have an interest in this topic ..."

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