Six days after Ms Caddick's decaying foot washed up, members of the public discovered a chunk of stomach flesh at Mollymook on Friday evening and called police.

"The remains will be forensically examined. Inquiries continue," NSW Police said.

The gruesome find comes a day after DNA testing confirmed a decomposing foot encased an ASICS shoe that washed up near Bermagui, 150km further south, belonged to the missing mother.

Ms Caddick vanished the day after corporate watchdog ASIC executed a search warrant at her luxury Dover Heights home on November 11.

Liquidators allege the self-styled financial adviser "meticulously and systematically" deceived those who entrusted millions of investment dollars to her over seven years, then used the money to fund her lavish lifestyle.

Ms Caddick's foot was on February 21 found by campers at Bournda Beach.

The remainder of her body is yet to be found.

Assistant Commissioner Mick Willing on Friday told reporters foul play against Ms Caddick was possible but suicide was more likely.

"Given the circumstances of the disappearance (and) the fact that she left personal belongings behind, we've always considered the possibility that she might have taken her own life," Mr Willing said.

Australian Associated Press