Promotion of Accounting Reform as the most effective Pathway to a Fairer Safer and more Prosperous Society. Comment and Support from all quarters is Sought to straighten out NZ's problem

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January 2011 Edition ----

Well our New Year resolution is to get a break-through in the Feltex Carpets case with the instigators of the huge fraud being "put away" along with those who have worked to keep the fraud covered up. Foremost amongst those are politicians. The party leaders since 2004 of the two major parties would seem to be well implicated as well as the Commerce Ministers. They at least have given an assurance that the IPO would not be genuinely investigated. Indeed most of both caucuses would be in the know, it will be up to juries to decide just who.

Then we have members of the Securities Commission and its "retained expert" for the Feltex case. And the liquidators who spent up public funds and pretended to find nothing when it was glaringly obvious that the projected sales were completely unrealistic. And of course the managing directors and many others in the lead broker firms. There is no excuse. This was blatant mass robbery. Into the cells they must go and remain indefinitely.

Our stock market is one big mess because of this scheme to win us a few Olympic medals. The Government should instead have announced that these games were crooked and encouraged citizens to have nothing to do with them. We suspect that many countries and some Olympic officials are in on this scam. Each country being given an unassailable advantage for a few specific events so as they could "have" a successful Athens Olympics.

We would ask our many followers to show some bravery, come out of the woodwork, and state the crookedness of this case.

The courts of course are just Government linked fora and are not immune from crookedness. We have some hope that the Court of Appeal will yet come out and declare what as gone on, otherwise it has just got to be a citizen revolution. .

We have gone onto Twitter as a possible way of advancing our cause. We invite people who follow us on this site to follow us there as well. Our username is "justaccounting". We know of course that a large portion of our followers are not supporters but are people who are implicated in the scandals we publicise, or agents of such people. They want to know how safe they are and if anything can be done to make them safer. We largely operate in a fish bowl.

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Case studies of ICANZ coverups

1 ACC Annual Accounts

2 Ernst and Young report to Dairy Co shareholders

 The scandalous Audit Cert of the 1990 BNZ annual accounts - Take a Look from Here And then learn about the Securities Commission here who reported on the affair. We also background the role of the Institute of Chartered Accountants of NZ in ignoring the affair. It might go back 10 years but many players still maintain high office, collectivly protecting themselves at the expense of others. 
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