Commonwealth Bank of Australia's board should consider withholding the bonuses of its 13 top executives pending the outcome of the latest scandal affecting the country's largest listed company.
It would send a strong message to shareholders, customers, politicians and the public that the bank was taking the allegations seriously and was focused on its internal risk management systems. The internal control of its risk management systems is at the centre of the latest scandal.
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Anne Hyland is an award-winning writer and a senior correspondent for The Sydney Morning Herald and The Age. She was previously deputy editor of Good Weekend and has worked for The AFR and as a foreign correspondent. Connect with Anne on Twitter. Email Anne at ahyland@smh.com.au
