The failure of Bank of Queensland to correct significant systemic risk management issues first detected almost a decade ago has led regulators to appoint an external auditor and set aside additional capital.
Several of those warnings, including an independent review conducted by Deloitte in 2021, were delivered to the bank while current chief executive, Patrick Allaway, was the company’s chairman.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
