Our regulators hard at work
The year has started with some notable and commendable action from our regulators: ASIC and AFSA.
In the last month ASIC has issued press releases with some notable prosecutions including a director banning order, a conviction against a disqualified director and finally a record penalty in the sum of $18.9 million. See links below.
AFSA is appealing to the public for information relating to ‘fraud by individuals through the creation of fictitious creditors, false caveats and mortgages used in personal insolvency agreements and bankruptcy administrations from 2010 until 2013’. AFSA are working on this with the Australian Federal Police.
Our friends at ARITA are getting in on the action, with raising awareness through its extensive membership base. We like to do the same. Our Forensic partners do their best to raise awareness of the atrocious nature of fraud crimes in the hope it compels people to become vigilant with their money, and the people they entrust it with.
Chris Cook
Chris is a highly experienced insolvency practitioner operating in the corporate and personal and insolvency profession for over 21 years. Chris gives stakeholders advice on business recovery, restructuring, turnaround management, and undertakes insolvency appointments as required During his career, Chris has substantial experience in a wide and diverse range of industries including, building and construction, retail, transport, commercial property, hospitality, manufacturing, mining services, printing, telecommunications, technology, and warehousing. Chris holds the following qualifications; > Registered company liquidator > Registered trustee in bankruptcy > Fellow of the Chartered Accountants Australian and New Zealand > Fellow Member of Australian Restructuring Insolvency & Turnaround Association (ARITA) > Qld Divisional committee member of ARITA > Member of the Certified Practicing Accountants (CPA) > Fellow Member of the Institute of Public Accountants (IPA)
T: (07) 3225 4386 E: chris.cook@worrells.net.au