Allied Farmers' auditor refuses to give opinion on accounts, questions future viability

Sun, 07 Oct 2012

By Paul McBeth Oct. 8 (BusinessDesk) - Auditors for Allied Farmers, which failed to turn itself into a major lender when it took on the Hanover and United Finance loan books, have refused to give an opinion on its books after questioning the validity of its forward cash flows. The accounting firm PWC's audit of Allied Farmer's 2012 financial statements include the little-used 'Disclaimer of Opinion', where the auditor declines to express an opinion. It said it was "unable to obtain sufficient audit evidence" that the group will generate eno...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
Contact Energy kicks off earnings season
Staff reporters | Mon, 15 Aug 2022

Contact Energy kicked off earnings season today, telling shareholders its annual profit had dipped 2.6% from 2021, and a $300 million investment into a new geothermal power station is on the way.

Transport
Aucklanders must get out of cars, onto public transport, says emissions plan
Oliver Lewis | Mon, 15 Aug 2022

Auckland council has unveiled its pathway to reduced transport emissions.

Law & Regulation
Address climate change now, supreme court told
Victoria Young | Mon, 15 Aug 2022

Fonterra, Genesis and others face climate change activist Mike Smith.

Sponsored
Communication the barrier to ‘human firewall’ technology

Communication is the barrier to New Zealand adopting the global Zero Trust cybersecurity strategy, says a new survey.

Sponsored
A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.