Australian Rugby / RA

[TSR]

Er no it isn't.

They should be able to answer any question around going concern in a worst case scenario RIGHT NOW. End of.

If they cannot then it is further proof of sheer incompetence.

I’m not sure if I’m interrupting your post correctly, but nobody knows what ‘worst case’ looks like here - unless you just mean that worst case is everyone could end up bankrupt and everyone out of a job.

There are a hell of a lot of people grappling with this in terms of business planning and I am yet to come across one who has any confidence as to what this means for their business.

 

[TSR]

Another criticism I have of RA is its long term agenda of paying over the odds salaries for the CEO.
If newspaper reports are any guide, RC started in Jan 2018 on $760,000 p.a. and until Tuesday was on $840,000.
It seems the Board assessed her each year as "meeting or exceeding KPIs" and gave her a 5% increase.
RA paid an excessive amount for what the CEO actually achieves, unfortunately in line with all other professional sports in Australia.
Yes, Olympic/NRL/AFL leaders get paid big sums too, but RA didn't have to follow that pathway.

For that amount of money, RC should have spent time informing RUPA of RA's full financial position, but she didn't.

How much do you think they should have paid, and are you confident they would have found strong candidates in that pay bracket?

I haven’t looked at this in depth - but if I take your point that her salary is in line with other sports then they paid the going rate.

 

[Micheal]

Another criticism I have of RA is its long term agenda of paying over the odds salaries for the CEO.
If newspaper reports are any guide, RC started in Jan 2018 on $760,000 p.a. and until Tuesday was on $840,000.
It seems the Board assessed her each year as "meeting or exceeding KPIs" and gave her a 5% increase.
RA paid an excessive amount for what the CEO actually achieves, unfortunately in line with all other professional sports in Australia.
Yes, Olympic/NRL/AFL leaders get paid big sums too, but RA didn't have to follow that pathway.

For that amount of money, RC should have spent time informing RUPA of RA's full financial position, but she didn't.

To add to the conversation -- what type of salary would you offer her or any other potential CEO of RA? As a general ball-park?

 

[Braveheart81]

Er no it isn't.

They should be able to answer any question around going concern in a worst case scenario RIGHT NOW. End of.

If they cannot then it is further proof of sheer incompetence.

It isn't just a case of slapping a statement in the financial statements that if the COVID-19 disruption is really bad then the entity will cease being a going concern and then the auditor signs off on it.

There are lots of considerations in both the preparation of the financials in terms of events after period end and whether they are adjusting events or just require disclosures plus extra consideration for auditors.

AASB and AUASB released joint guidance for financial statement preparers and auditors just two weeks ago regarding COVID-19 guidance and considerations.

You also need to consider that there isn't a single auditor in the country who has dealt with this situation before. In signing off an audit report they provide assurance. That's the whole point. There are massive considerations around that assurance with their firms and their PI insurers.

This is far more of an auditor issue than the entity preparing their financial statements (RA).

 

[Adam84]

She cost the code $4 million by not inserting a clause in Israel's contract preventing him from what he did. FACT.

She turned down a broadcast deal which was singificantly greater than market value, regardless as to what has happened in the world since then. FACT

She allowed a Wallabies Head Coach to continue in a role and develop poisonous factions within her employ despite him failing to achieve acceptable results, leading to a splintered playing group and Board. FACT

She has not stood up for Australia sufficiently at a SANZAAR or World Rugby level, leading to losing the WRWC bid, and seeing the Super Rugby competition continue to move towards a model which is unpalatable for the Australian franchises commercially. FACT

She has consistently performed poorly in a media context, and has shown an inability to communicate clearly, develop genuine relationships in the press and be a positive representative of the game. FACT

There are bucketloads of FACTS for why she has performed poorly, and if you retrace this thread you will see plenty of examples. People who like and support her are unlikely to change their minds, ditto people who don't, however the suggestion that so many of us only want her fired due to her gender is completely incorrect. She is extremely unfortunate in what she inherited from Bill Pulver, and in the current pandemic, but that doesn't make her immune from critique.

FWIW, I too am pleased with some of the coaching appointments and the progress in elite development (Schoolboys, Junior Wallabies), as well as the development of Super W.

no, in FACT these aren't facts, most of these are simply the opinion of someone stated as a fact because they believe them to be true.

 

[Jimmy_Crouch]

https://www.foxsports.com.au/rugby/...f/news-story/ede3d9ced108951ab46beea8ab53744e

This reporting is appalling. Can't believe the hatchet job they are doing to lowball the code.

 

[Derpus]

I dont get it... Every other code has cut as much or more - literally millions of people are out of a job. Its almost as if the virus isn't a thing and we arent all literally locked in our homes right now?

 

[Finsbury Girl]

I’m not sure if I’m interrupting your post correctly, but nobody knows what ‘worst case’ looks like here - unless you just mean that worst case is everyone could end up bankrupt and everyone out of a job.



There are a hell of a lot of people grappling with this in terms of business planning and I am yet to come across one who has any confidence as to what this means for their business.

There is a worst case - they get zero income over the next 12 months. The going concern question is a simple one to address.

The directors are the ones who make that call - the auditor will either agree or disagree with that view.

Either way, it is certainly reasonable to infer that 1) in the worst case scenario the ARU cannot be considered to be a going concern and 2) due to this they are scrambling to come up a reasonable scenarios that shows it is a going concern in order to assuage the auditors fears.

 

[TSR]

There is a worst case - they get zero income over the next 12 months. The going concern question is a simple one to address.

The directors are the ones who make that call - the auditor will either agree or disagree with that view.

Either way, it is certainly reasonable to infer that 1) in the worst case scenario the ARU cannot be considered to be a going concern and 2) due to this they are scrambling to come up a reasonable scenarios that shows it is a going concern in order to assuage the auditors fears.

Okay - we aren’t even close in our thinking here so I’m just going to let it go.

 

[Dan54]

https://www.foxsports.com.au/rugby/...f/news-story/ede3d9ced108951ab46beea8ab53744e

This reporting is appalling. Can't believe the hatchet job they are doing to lowball the code.

You know it's almost like Fox and some of their employees are pissed at RA for not signing what they offered, and so it time to wipe them out? I watched Backpage last couple of weeks to confirm it, and rugby is not mentioned once by the lackeys!!!

 

[I like to watch]

Another criticism I have of RA is its long term agenda of paying over the odds salaries for the CEO.
If newspaper reports are any guide, RC started in Jan 2018 on $760,000 p.a. and until Tuesday was on $840,000.
It seems the Board assessed her each year as "meeting or exceeding KPIs" and gave her a 5% increase.
RA paid an excessive amount for what the CEO actually achieves, unfortunately in line with all other professional sports in Australia.
Yes, Olympic/NRL/AFL leaders get paid big sums too, but RA didn't have to follow that pathway.

For that amount of money, RC should have spent time informing RUPA of RA's full financial position, but she didn't.

That's the market rate, that position is not overpaid.
You might well be justified in suggesting she's not up to the job.
But to be fair,she is in control at a time when anyone would struggle to do well in all aspects.

However, given poor financial results
Poor participation
Poor crowds
Poor tv ratings
Poor onfield results
How does she give herself a 72% mark (apparently in latest AR)
What the fuck are they measuring?
And that's on the board,not her.

 

[Sully]

I don't know about the rest of the mods but I'm pretty close to banning a few guys permanently.

 

[The_Brown_Hornet]

Yeah I'm getting increasingly pissed off with News Ltd death riding the code here. Perhaps we'd be better off cutting ties and going elsewhere.

 

[RebelYell]

I don't know about the rest of the mods but I'm pretty close to banning a few guys permanently.

Sorry, you're considering banning people who dare to hold Raelene, the executive and the Board accountable and want to share their opinions? Isn't that the entire purpose of a forum?

 

[drewprint]

Sorry, you're considering banning people who dare to hold Raelene, the executive and the Board accountable and want to share their opinions? Isn't that the entire purpose of a forum?

Opinions now is it? I thought it was all FACT.

 

[RebelYell]

Opinions now is it? I thought it was all FACT.

Ha! Quite good. My opinions are based on a number of facts

 

[Ignoto]

She cost the code $4 million by not inserting a clause in Israel's contract preventing him from what he did. FACT.

Reveal Rugby Australia has an insurance policy in place to cover an unspecified amount of the settlement;

https://www.rugby.com.au/news/2019/12/05/castle-folau-presser

Nice alternative facts.

 

[Slim 293]

I try not to bite too often on here, but this is spreading incorrect information.

RUPA/the players are able to make exceptions to this clause if the alternative is that the player is not going to be offered a contract, and it has been widely reported that JOC (James O'Connor), Karmichael & Kurtley have all had contracts negotiated under these conditions

These were clauses that were agreed to by JOC (James O'Connor) and KHunt.........

RA could not force a social media clause upon Folau.

Obviously they could've not offered him a contract, but then just imagine the fallout from that ridiculous scenario.........

But Folau still had to abide by the code of conduct, for which he failed to do and was terminated on several breaches of that.

 

[Sully]

Sorry, you're considering banning people who dare to hold Raelene, the executive and the Board accountable and want to share their opinions? Isn't that the entire purpose of a forum?

yeah.

 

[dru]

I don't know about the rest of the mods but I'm pretty close to banning a few guys permanently.

Please make sure the hammer is equal on both sides of the matter.