2 September 2011: Australian court case sheds light on directors’ responsibilities for compliance with Accounting Standards
Posted by mostafa on 2 September, 2011
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The Federal Court of Australia has handed down penalty orders in a case involving financial reporting issues (the ‘Centro case’). The penalty orders follow on from an earlier decision on 27 June 2011 where the Court found directors had breached their duties when they signed off on financial reports that failed to disclose significant matters.