Business
Freedom Foods accounting scandal worsens, as ASIC begins its investigation – ABC News
Cereal and snack-maker Freedom Foods has announced half a billion dollars in write-downs, and is being investigated by the corporate regulator ASIC for some “significant”…
Cereal and snack-maker Freedom Foods is being investigated by the corporate regulator ASIC for a series of “significant” accounting problems.
Key points:
- The company will have lost its chairman, CEO and CFO, in quick succession, by early next year
- Freedom published an “insider trading” policy, when it confirmed ASIC was investigating the business
- Deloitte found some executives, between 2014-2019, had paid themselves extra (without getting board approval)
The beleaguered company has also revealed that…
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