Latest Auditing News

Kinetiko Energy’s Brakfontein test wells delivered sustained gas flows well above the commercial threshold used in its prior reserve assessment, strengthening the case for a staged South African development. But the company ended the year with just A$478,634 in cash and restricted funds, prompting its auditor to flag a material going concern uncertainty.

Investor Centre is pursuing a restructuring and potential ASX reinstatement after Pulse Markets lost its financial services licence, while the group reported $35,000 in cash and $3.213 million of drawn debt at 30 September. The company says a new Lake Volta funding arrangement could support working capital, but the filing leaves important questions about the facility and the proposed recapitalisation unanswered.

Scorpion Minerals has outlined a materially larger open-pit opportunity at Old Prospect, with an optimisation identifying 16,159 ounces of gold from two pits. The result is an early development signal, but it depends on a A$6,000 per ounce gold assumption and is not yet a feasibility study or ore reserve.

Findi says it has not secured financing or restructuring terms acceptable to the relevant parties, while its cash runway remains short and its ASX suspension continues. The company cannot provide a date for lodging its FY2026 audited accounts or Annual Report.

AEMO has increased the capacity allocation for Frontier Energy’s Waroona Stage One project by 10.95MW, lifting expected annual Reserve Capacity Payments to about $36 million. The change raises the project’s forecast revenue, EBITDA and free cash flow through the fixed-price period, although the forecasts still depend on construction, commissioning and future capacity assessments.

VEEM has secured initial A$0.8 million purchase orders from HII for the Virginia Class submarine program, becoming the first Australian AUSSQ-qualified supplier to do so. The award gives the Perth defence manufacturer a foothold in the US submarine supply chain, although the value of future opportunities remains uncertain.

Superloop has completed its three-year Double Down strategy with revenue up 21.6% to A$664.3 million and net profit reaching A$17.5 million. The ASX-listed telco now turns to SuperCharge29, but its next growth phase begins with substantially higher debt and A$111.4 million of provisional goodwill from the Lightning Broadband acquisition.

Panorama Auto Trust 2024-3 reported a sharp reduction in securitised auto-loan liabilities and expected credit loss provisions during the year ended 30 June 2026. Net assets attributable to the unitholder rose to $46.8 million, although the special purpose report offers limited information beyond the trust and its unitholders.

Panorama Auto Trust 2023-1 reported a $9.3 million profit attributable to its unitholder for the year ended 30 June 2026, but says it expects to wind up and liquidate within 12 months. The accounts were prepared on a liquidation basis, with PwC issuing an unmodified audit opinion alongside an emphasis of matter on the planned termination.

Klevo’s Fly Wallet doubled monthly revenue to $38.0 million in August, powered overwhelmingly by stablecoin sales. The subsidiary remained operating-profit positive, although gross profit fell as management fee income shifted into September.

International Equities Corporation has returned to a modest annual profit after exiting serviced apartments, but the recovery is fragile. Cash fell sharply, operating cash flow remained negative and the auditor highlighted material uncertainty over the group’s ability to continue as a going concern.

Sunshine Metals is moving Mt Moss toward a planned mid-2027 first gold pour, but its annual report carries a material uncertainty over going concern as the company faces a $10 million deferred payment and roughly $30 million of development spending. The ASX-listed explorer reported a narrower FY2026 loss and $20.57 million in cash after a year of major capital raisings and project expansion.