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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June 2011 Edition ----

A summary of our evidence re the Feltex Carpets case is being maintained here.

And the report on certain Bank of NZ arrangements of the late 80s to early 90s is availabble here.

Well no doubt it had to happen. Sarah Ulmer has been appointed an (or "the") ambassador for NZ's cycleways. The Olympics has become a festival of cheats, especially in cycling, and people who ride cycleways will want nothing to do with it. As the announcement was made it was revealed that Tyler Hamilton had handed in his gold medal for cycling at the Athens in 2004, confessing we think to epo use.

We recently walked up Frazer Avenue in Wellington where during Easter this year (2011) a most bizarre road death occurred. One Paul Phillip Wilson apparently charged uphill and careered into a bank, killing himself. We understand the car had just been stolen. We have ascertained that his mother was listed in the Feltex IPO prospectus as the company's General Manager, Commercial Sales and Marketing. She joined the company in 1988 and has remained with it. Our expectation is that she has been pressured into going along with a forecast of a 1% p.a. growth in market share in the prospectus knowing that this share was falling at the rate of 5% p.a. and little could be done about it. Phillip would have been 14 at that time. We submit that the Feltex affair has had a most terrible effect on that family, probably not at all of their making. The Feltex IPO has had terrible effects all round and we ask for support in getting it exposed. .

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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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