What consequences of officers for failing to act appropriate, Accounting Basics

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What consequences of officers for failing to act appropriate

Problem

Read the case of ASIC v Citigroup Global Markets Australia Pty Ltd (No 4) [2007] FCA 963 On what grounds did the Federal Court of Australia find that various directors (and officers) had failed in their duty to the company? What were the consequences of officers (including directors) for failing to act appropriately? In particular, why was the ASIC v Citigroup case so significant?

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Accounting Basics: What consequences of officers for failing to act appropriate

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