Originally Posted by
blackcap
Totally.
But how can we allow these "inflated" figures onto balance sheets. Do auditors not have a responsibility?
I think the disconnect that this discount to NTA shows does the profession a disservice. Ie something needs to be done. Not sure if legislation is the right answer but something is not right.
On the other hand, a few years ago, CDI were putting their property developments on the books at cost, vastly undervaluing their NTA. Not sure that is the right approach either. But there needs to be a middle ground that investors can trust.