The non-executive director and former KPMG partner in charge of cleaning up the miner’s conflicts of interest mess will have to review the internal audit work done by KPMG.
One of the many mysteries left hanging in the fog of opaque disclosure surrounding the corporate governance implosion at Mineral Resources is the role played by internal audit, the so-called third line of defence against material risks.
It is reasonable to ask what the MinRes internal audit team was doing when chief executive and founder Chris Ellison was using company resources for his personal benefit, doing deals that benefited his daughter, not acting with integrity and failing to separate his personal interests from those of the company.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
