Re: The Australian Federal Election 2010 Thread (III)

[JGK]

Still, I think you can relax. I'm confident the pinkos will scrape in by up to 10 seats

Nah, I reckon the woman-hating fairygodfather-believing economic illiterate is going to get in.

At least with the stack of money I am going to make with the bookies, I will be well stocked for the NRL SF and the Ashes tour (and a case or two of some fine reds which I will need to get me through the next couple of weeks).

[G.Wood]

Still, I think you can relax. I'm confident the pinkos will scrape in by up to 10 seats

Nah, I reckon the woman-hating fairygodfather-believing economic illiterate is going to get in.

).

It's got me farked how the polls have been so close and fluctuating yet the corporate bookies have stuck so solid with the pinkos as strong favourites.

[JGK]

Aye. Very strange.

[G.Wood]

the polling must be done by Peter Garrett and Barnaby Joyce

[Mick Sawyer]

the polling must be done by Peter Garrett and Barnaby Joyce

Both uncertain which way they'll vote?

[JGK]

the polling must be done by Peter Garrett and Barnaby Joyce

And audited by WHK Horwarths.

[Mick Sawyer]

And audited by WHK Horwarths.

Missed that. What've that not done?

[G.Wood]

Costed the tories pork barrelling and had lunch with qm3

[JGK]

Hockey's spruiking of 'audit' questioned

Costings chaos and confusion

THE accounting firm that the Coalition says audited its election costings has been accused of breaching both auditing and ethical standards in a complaint to be lodged with the Institute of Chartered Accountants.
''If they had produced a report like this on a prospectus, they would be in trouble because it would be an offence under the Corporations Act not to comply with relevant standards,'' said Professor Bob Walker, of the University of Sydney, a 40-year member of the institute who will lodge the private complaint.
''But as this does not fall under the Corporations Act, it is a matter for the profession.''
Australian Auditing Standard 804 requires an auditor to ''obtain sufficient appropriate audit evidence as to whether management's best-estimate assumptions on which the prospective financial information is based are reasonable''.
The one-page letter from WHK Horwath attached to the Coalition's costings released on Wednesday states the firm relied ''on the assumptions provided''.
The standard requires auditors to investigate whether ''all material assumptions are adequately disclosed, including a clear indication as to whether they are best-estimate assumptions or hypothetical assumptions''.
The costings document discloses no assumptions.
The firm did not assert in the letter that it had conducted an audit. It said it had been engaged ''to review the costings estimates prepared by the Coalition''.
However, in spruiking the document yesterday the shadow treasurer, Joe Hockey, repeatedly described it as an audit.
''We have the fifth biggest accounting firm in Australia auditing our books and certifying in law that our numbers are accurate,'' he told ABC TV.
''This is an audited statement,'' he told ABC radio.
The code of ethics requires accountants to endeavour to make sure clients and others do not misinterpret their work.
Geoff Kidd, one of the principals of WHK Horwath who signed the letter endorsing the Coalition's costings, said: ''We provided one document and we believe it speaks for itself."
Christine Jubb, of the Australian National University's National Centre for Audit and Assurance Research, said: ''Joe Hockey is playing fast and loose, there's no doubt.''

[bodyline]

Hockey's spruiking of 'audit' questioned

Costings chaos and confusion

THE accounting firm that the Coalition says audited its election costings has been accused of breaching both auditing and ethical standards in a complaint to be lodged with the Institute of Chartered Accountants.
''If they had produced a report like this on a prospectus, they would be in trouble because it would be an offence under the Corporations Act not to comply with relevant standards,'' said Professor Bob Walker, of the University of Sydney, a 40-year member of the institute who will lodge the private complaint.
''But as this does not fall under the Corporations Act, it is a matter for the profession.''
Australian Auditing Standard 804 requires an auditor to ''obtain sufficient appropriate audit evidence as to whether management's best-estimate assumptions on which the prospective financial information is based are reasonable''.
The one-page letter from WHK Horwath attached to the Coalition's costings released on Wednesday states the firm relied ''on the assumptions provided''.
The standard requires auditors to investigate whether ''all material assumptions are adequately disclosed, including a clear indication as to whether they are best-estimate assumptions or hypothetical assumptions''.
The costings document discloses no assumptions.
The firm did not assert in the letter that it had conducted an audit. It said it had been engaged ''to review the costings estimates prepared by the Coalition''.
However, in spruiking the document yesterday the shadow treasurer, Joe Hockey, repeatedly described it as an audit.
''We have the fifth biggest accounting firm in Australia auditing our books and certifying in law that our numbers are accurate,'' he told ABC TV.
''This is an audited statement,'' he told ABC radio.
The code of ethics requires accountants to endeavour to make sure clients and others do not misinterpret their work.
Geoff Kidd, one of the principals of WHK Horwath who signed the letter endorsing the Coalition's costings, said: ''We provided one document and we believe it speaks for itself."
Christine Jubb, of the Australian National University's National Centre for Audit and Assurance Research, said: ''Joe Hockey is playing fast and loose, there's no doubt.''

That should read - Labor getting REALLY desparate.

[Bradman]

Still, I think you can relax. I'm confident the pinkos will scrape in by up to 10 seats

Nah, I reckon the woman-hating fairygodfather-believing economic illiterate is going to get in.

).

It's got me farked how the polls have been so close and fluctuating yet the corporate bookies have stuck so solid with the pinkos as strong favourites.

If you go on a seat by seat basis the coalition are ahead, but on who will win they are backing the ALP. I know it's pretty easy(though illegal) for a bookie to skew a market, but that just makes no sense. I reckon their sucking easy money off desperate tories and pinkos in the seats and hoping to make a killing on the national result.

But hey I'm a robert Ludlum fan.

Your Bowman bet is about the only sure money i can see at the mo JGK.

[Bradman]

Costed the tories pork barrelling and had lunch with qm3

I wouldn't have lunch with anyone who costed the Mad Monk's spendathon. I'd get stiffed with the bill and a vague promise of a childcare rebate sometime after I'm dead.

[bodyline]

The latest line from the PM

If you vote Abbott in Anna will still be premier of QLD. FFS she has just hit an all time low in the begging stakes.

The momentum is with the Libs - but whether it is enough - we will see in about 30 hours.

I suppose the last real question is:

At what time will Antony Green call the result?

[bodyline]

THE Coalition has accused Labor of sneakily advising voters that government election promises will add $400 million to the Budget deficit in two years' time.

Labor today posted on its website, without fanfare, the net impact of its promises on the Budget between now and 2013/14.

"It's sneaky, it's deceitful," Opposition Treasury spokesman Joe Hockey said in suburban Brisbane.

"They didn't have the courage to look the Australian people in the eye, they simply snuck it up on their website 24 hours before the election."

Labor, in its website announcement, says it has made $4.021 billion in new spending commitments which have been offset by $4.065 billion in savings leaving a net gain of $44 million.

But before that, Labor promises will add $553 million to the Budget deficit in 2011/12, after producing a saving of $126 million in 2010/11.


Start of sidebar. Skip to end of sidebar.
End of sidebar. Return to start of sidebar.

Labor says $341 million will be saved in 2012/13 and $131 million in 2013/14.

Read more: http://www.news.com.au/business/breaking-news/labors-final-costings-sneaky-says-joe-hockey/story-e6frfkur-1225907766316#ixzz0x70VlpjK

[JGK]

Your Bowman bet is about the only sure money i can see at the mo JGK.

Sadly, Bennelong also looks a lock.

[Bradman]

Your Bowman bet is about the only sure money i can see at the mo JGK.

Sadly, Bennelong also looks a lock.

Stranger things have happened, but yeah pretty sad. I'm gonna back every ALP candidate in those supposed marginal Brisbane seats except Bowman. I'm stearing well clear of Leichardt (Entsch farking qunt), Brisbane (Bevis is apparently on the nose) and Bennelong.

[bodyline]

Your Bowman bet is about the only sure money i can see at the mo JGK.

Sadly, Bennelong also looks a lock.

Stranger things have happened, but yeah pretty sad. I'm gonna back every ALP candidate in those supposed marginal Brisbane seats except Bowman. I'm stearing well clear of Leichardt (Entsch farking qunt), Brisbane (Bevis is apparently on the nose) and Bennelong.

Well - the bookies look like having a field day from you.

The ALP will get smashed in Queensland.

[Bradman]

All politics is local mate. Which is why I'm prepared to back myself on some ultra marginals and am dubious about Brisbane and Leichardt. Plus at least I've nailed my colours to the mast instead of cutting and pasting stuff that most people read with their breakfast this morning.

Or contributing to the debate with such schoolyard *sh!t* as Penny Wong's sexuality, or getting upset when the Trade Unions give money to their political arm or spend six months bitching about Rudd and then the next two months bitching about him being knifed. The torries on this forum and their level of debate is why most pinkos are pinkos.

[bodyline]

All politics is local mate. Which is why I'm prepared to back myself on some ultra marginals and am dubious about Brisbane and Leichardt. Plus at least I've nailed my colours to the mast instead of cutting and pasting stuff that most people read with their breakfast this morning.

Or contributing to the debate with such schoolyard *sh!t* as Penny Wong's sexuality, or getting upset when the Trade Unions give money to their political arm or spend six months bitching about Rudd and then the next two months bitching about him being knifed. The torries on this forum and their level of debate is why most pinkos are pinkos.

Aren't you due at the GG's house for afternnong tea and a few GT's?

[Bradman]

Nah! Quentin's a lawsuit or a scandal waiting to happen. Yarralumla is a bit of a slum anyway, though unlike most of the rubber chicken dinner's I've had to attend, their's normally feature edible food and a wine list that screams lack of taxpayer oversight.

[bodyline]

Have missing persons found Peter Garrett yet?

[Bradman]

Or the oppositions Communications spokesman, Or the Mad Monk or Robber whenever the NBN is talked about. Fark they may as well wheel out His Accidency. He'd know less than SFA but apparently the OAP's love him and he'd at least be preaching to an audience who know less than he does.

[JGK]

From the SMH:

The Iron Monk liked the vest, and tried one on, but he respectfully requested that he not be tasered during his visit. This from a man who had earlier elected to have a light beer shandy at the Manly pub.

Don't let the word get out but the man who could be Prime Minister tomorrow likes a light beer shandy, and won't be tasered at a cop shop at 1am. Iron Monk huh?

Don't worry Mr Abbott, your secret is safe with us.

FFS, if that doesn't exclude him from the top job...

[Hass]

Well, here's my prediction:

Labor: 78
Coalition: 68
Independents: 3
Greens: 1

These types of predictions are always fraught with danger, but you have to risk getting egg on your face if you want the kudos for getting it right.

[JGK]

Have missing persons found Peter Garrett yet?

He's having a beer with Warren Truss.

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