Following the Jewellers Association Australia board's publication of inaccurate and misleading claims concerning its financial affairs over the past decade, Jeweller sought clarification on the matter from newly appointed independent director Anna Hakman.
By way of background, the four-member board of directors published a media statement on 31 March titled ‘Clarification regarding JAA Suppliers Sub Committee.’
It reads:
“The JAA also wishes to clarify that the suggestion the Association has recorded losses over the past decade. The Association has been financially stable overall, with the limited instances of two reported losses attributable to clearly identifiable and explainable factors.” [Emphasis added]
This statement was published in response to a letter to industry suppliers distributed by Expertise Events managing director Gary Fitz-Roy on 12 March.
As previously documented, the JAA’s statement included demonstrably false claims.
Explained in simple terms, the JAA claimed that it had recorded financial losses in two accounting years over the past decade, when it had in fact reported losses on four occasions.
The board statement was published the day after its annual general meeting (AGM), which took place on 30 March.
In the lead-up to the AGM, two directors had submitted resignations - Stephen Schneider and Mary Storch – which brought to three the number of directors departing the board.
As previously reported, Jay Bartlett abruptly quit the JAA in early...
News Following the Jewellers Association Australia board's publication of inaccurate and misleading claims concerning its financial affairs over the past decade, Jeweller sought clarification on th...