Back in February, Phoslock Environmental Technologies announced it needed additional time to lodge its audited 2020 financial report, invoking “reporting relief” provided by ASIC and promising to release the full-year accounts “on or before March 31”.

None of this was surprising, given the water treatment company’s admission in October of “accounting irregularities” in its China division. You might recall that KPMG’s forensic accounting team was brought in to review the falsified accounts signed off by house auditor … KPMG!