The watchdog issued a statement that outlined plans to tighten its grip on the financial activities of the telecommunications industry by the end of 2000.
Telcos which the regulator expected to scrutinise under the proposed new accounting framework included Telstra, Cable and Wireless Optus, Vodafone, AAPT and Primus, the statement said. Telstra, Optus and Vodafone are already obliged to supply some regulatory accounts to the Commission.
One.Tel was not listed as a likely addition to the list. ACCC telecommunications general manager Michael Cosgrave said telcos would be selected to report to the watchdog based on market capitalisation.
One.Tel, which is forecasting losses of AU$190 million for the next financial year, is currently valued at around AU$1.7 billion - less than one-third the AU$5.4 billion height it reached less than one year ago.
Cosgrave said the Commission needed to gain a better understanding of -where these telcos' revenues are coming from."
He admitted the new accounts reporting model would leave telcos saddled with the -onerous" task of making annual reports to the Commission on the regulatory aspects of all financial movements. He said preparation of those reports would be a costly and time-consuming process.
The Commission expected the list of selected telcos would spark -robust debate", Cosgrave said.
