A report released today by CPA Australia on the health of Australia’s 1,600 ASX-listed companies claims that nearly one-third are facing the risk of a “financial catastrophe”, with the danger even greater now than during the depths of the Global Financial Crisis. The companies most at risk are in the mining and energy sectors, which are primarily exposed to the ending of the once-in-a-century mining investment boom and slowing growth in China, which is lowering commodity prices. From The SMH:
The report shows that almost a third of ASX-listed companies attracted “going concern” warnings from independent auditors and that most of the warnings were concentrated in the bottom 500 listed companies.
