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19 Jul 2019 1:08
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  •   Home > News > Business

    ANZ is welcoming independent reviews

    ANZ is welcoming independent reviews


    It comes after ANZ's CEO left under an expenses cloud, and a censure from the Reserve Bank over using the wrong model to calculate capital risk.

    The bank's promising to work with the Reserve Bank to make sure everything is up to scratch with its processes.

    Board Chair, Sir John Key, says the board had been working on commencing an independent review to provide assurance its capital models and the directors' attestation process are robust and operating in a prudent manner.

    An attestation process is the way directors check everything under their supervision is correct.

    Sir John says the directors agree the best way to achieve this is working with the Reserve Bank and a third party.

    © 2019 Newstalk ZB, NZCity


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