Day: March 7, 2023

N1 Holdings restates revenue and improves business risk disclosure following ASIC review

N1 Holdings Limited (N1H) has restated its 2022 revenue in its financial report for the half year ended 31 December 2022, following ASIC’s review of N1H’s financial report for the year ended 30 June 2022. As part of its financial reporting surveillance program, ASIC raised concerns about N1H’s treatment of loan establishment fees and the …

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IDP Education adjusts contingent liability disclosure following ASIC review

IDP Education Limited (IDP) has adjusted its disclosure of a contingent liability in its financial report for the half-year ended 31 December 2022, following ASIC’s review of its financial report for the year ended 30 June 2022. IDP’s estimate of the contingent liability, which relates to Goods and Services Tax (GST) matters in dispute with …

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Emeco writes down value of a trade receivable and improves business risk disclosure

Following inquiries by ASIC, Emeco Holdings Limited (Emeco) has recorded a specific expected credit allowance of $22.9 million in its half-year financial report for the period ended 31 December 2022. Emeco recognised a $22.9 million expense to a specific expected credit loss allowance in its Interim Financial Report for the half-year ended 31 December 2022. …

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