Web Travel Group chief executive John Guscic can blame his auditor for an embarrassing accounting kerfuffle and four-day tailspin, but it is his company that is left with a credibility problem.
If there is one thing that is sacred with institutional investors, it is a company’s accounts. Investors do not have enough bandwidth to completely understand every ASX-listed company, its industry or various geographies, but they can analyse financial statements.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
