MISSING $17M FLOORS API

How does a publicly listed corporation lose track of more than $17 million? Australian Pharmaceutical Industries is unable to explain a financial black hole that has sparked a massive profit downgrade and evidently cost its boss his $660,000-a-year job. API, which owns Priceline and Soul Pattinson stores, has emerged from a month-long investigation to reveal that significant financial discrepancies identified in its accounts had wiped more than 40 per cent off its full-year earnings. The Age (http://www.theage.com.au/news/business/missing-17m-floors-api/2006/08/14/1155407742080.html)