The directors of CPA Australia are being investigated by the corporate regulator for possibly breaching their director's duties after allegedly misspending members' money.
The Australian Securities and Investments Commission revealed during a Senate hearing on Friday that it first began investigating CPA back in late May, before seven of the 12-member board resigned during the last fortnight amid an escalating crisis.
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Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
