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Showing posts from July, 2020

Seeing red flags

Monday night’s Four Corners program on ABC TV was of great interest. The program was titled: “ The financial scandal and human cost of Australia's failing workers compensation schemes”. It went to air with the title: “Unethical & Immoral”. The program considered alleged failings of Victoria and NSW’s workers compensation schemes. The schemes are run by government owned entities; Workcover in Victoria and iCare in NSW. Together the schemes provide workers compensation to a large proportion of Australia’s workforce. The television program was of interest in that a risk professional likes to consider whether red flags were evident in governance or business practice prior to the emergence of the impact of misconduct. Now, I’m not suggesting there is misconduct – only that the investigative journalism of the ABC allows an insight into the current affairs. That is, I’m taking the ABC journalism as the whole of the account. Indeed, I’ve kept analysis here strictly to the transcr...

Postscript: AICD Finance for Directors; Foundations of Directorship; Finance for Directors; 16 July 2020

I completed a quick exercise examining Taronga's most recent financial accounts to see how the June 2019 numbers ran. you can access the accounts as linked . The four operating ratios are not completed for 2019 as there is insufficient data available. Analysis: 2019 was a less profitable year that 2017, 2018 and borrowings increased further over 2018. Slight reduction in liquidity. While not evident from the ratios below the lower profitability of 2019 is led by an approximate 10% reduction of Government Grants in 2019.