In this article and everywhere where AMP gets to spin their BS they make it sound like it is the adviser's fault for failing the audits.
AMP has been auditing these files and these advisers every year and never had a problem.
Furthermore, these files are audited at 2 different audits: the Look back and the Exit audit.
The "Look back" is conducted by ASIC and surprise surprise, these files pass the audit.
The "Exit" audit is conducted by AMP and affects the valuation. Surprise surprise these audits fail.
Then, AMP takes these clients they absolutely "steal" from exiting planners and on sell them!!!
The only reason AMP are in court is that they believe they can get out of their commitments cheaper this way.