Adams hires EY Australia to run ruler over Chorus books

Fri, 15 Nov 2013

By Paul McBeth Nov. 15 (BusinessDesk) - Communications Minister Amy Adams has hired Ernst & Young Australia to investigate Chorus’s financial position after the Commerce Commission ordered price cuts to the network operator’s copper lines. Adams has tasked the accounting firm to assess the impact of the final regulator’s decision on Chorus’s financial indicators, including earnings before interest, tax, depreciation and amortisation, net operating cash flow, debt ratios, borrow lines and borrowing costs now and over the build period for the...

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