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ANZ takes $212m profit hit after Malaysian corruption settlement – 1 March 2021
ANZ’s profits will be cut by $212 million after its Malaysian bank was fined for failing to prevent a global corruption scandal that ended in the country’s prime minister being jailed.
Building confidence in external audit – 1 March 2021
The Parliamentary Joint Committee’s recommendations for the future of audit, stand to enhance transparency and boost confidence in audit without making fundamental changes to how audits are conducted. The recommendations, if implemented by the Australian Government, have the capacity to elevate confidence in external audit and reinforce its relevance.
https://www.intheblack.com/articles/2021/03/01/building-confidence-external-audit
Court rules to extradite disgraced jewellery mogul Nirav Modi – 1 March 2021
The celebrity jeweller at the centre of an alleged $US2 billion ($2.5 billion) fraud that rocked Punjab National Bank three years ago can be extradited to stand trial in India. Modi is believed to have fled India in February 2018 after he was accused of committing a multibillion-dollar fraud against Punjab National Bank (PNB), the country’s biggest lender.
https://www.afr.com/world/europe/jeweller-in-2-5b-alleged-fraud-can-be-sent-to-india-20210226-p5766d
(Access to digital AFR required.)
ACT Police charge 46yo with 23 ECEC fraud offences netting over $480,000 – 1 March 2021
ACT Policing has charged a 46-year-old woman with 23 counts of obtaining property by deception, to the value of more than $160,000, during her employment with an early childhood education and care facility in Weston.
