With seven directors gone, the remaining five have made a big decision:
Alex Malley will retain his leadership of CPA Australia after the board appointed a three-person panel to conduct a “fiercely independent” review.
The panel will include retired air chief marshal and former defence for chief Angus Houston, former Auditor General Ian McPhee and an as-yet unnamed third member.
In a related development, ASIC commissioner John Price hinted that the corporate regulator was investigating whether the CPA directors had breached their duties and confirmed that an active investigation into the accounting body was underway.
The review can’t be independent if its appointed by, and paid for, by the CPA. Frankly, the proposition that it is only underlines that the board has no ethical compass.
Fake news that won’t settle the issues at all.
