Knowledge Base

Opinion

The NAB and Accountability - The Age, January 15, 2004

The NAB has announced its second major incident of 'significant, unplanned loss'. Homeside and now this - unauthorised foreign exchange dealing. The last time, the NAB Board blamed staff and removed some of them. Surely such instances are as a result of poor management, poor processes and inadequate Board oversight. Shareholders should demand the resignation of the Chairman and those Board members who serve on the audit committee. If the CEO is not responsible, then I would like to know the reason why. Senior management get the pay, now let them take the responsibility.

< back

| top |