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Freedom Foods reveals $591.5m cost of accounting scandal – The Australian Financial Review

External auditor Deloitte says it found significant deficiencies in the fast-growing company’s accounts as the troubled manufacturer revealed a near $175 million…



Mr Gunner tried to reassure shareholders, saying he was “deeply disappointed” about the results, but once they had identified the accounting matters the board acted quickly.
“It’s been a very exhaustive process which is why we are going right up to the deadline,” he said. “We have turned over every stone, and we have turned over every pebble and we have turned over every grain of sand.”
Besides the previously flagged $60.1 million in out of date inventory, the most significant item in the write-down…

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