Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Transend Response To Draft Preliminary Report

10 February 2002

New Zealand Post Releases Transend Response To Draft Preliminary Report

New Zealand Post released today the response to the draft preliminary report concerning one element of the Kroll investigation that its subsidiary Transend received in July last year to comment on.

New Zealand Post Chief Executive Elmar Toime said the document received last year was not the 'Kroll report' commissioned by the South African government to provide a comprehensive audit of SAPO, of which the contract between SAPO and Transend was only one element.

"New Zealand Post has never received the Kroll report and nor do we expect to receive it."

Mr Toime said Transend's response strongly refuted the findings in the draft preliminary report and stated that it was materially flawed in focussing on only one of the performance targets in the contract with SAPO.

"The lack of status of the draft preliminary report is supported by the fact that Transend and SAPO have since reached an amicable commercial settlement and none of the findings in the document have been raised again. To this day, Transend continues to provide project assistance to SAPO."

Mr Toime said the draft preliminary report and Transend's response were raised at the New Zealand Post Board meeting in July and copies of both documents were given to Board members one week prior to a meeting on 8 and 9 August, when they were discussed by the Board.

Mr Toime denied claims that he had misled the Finance and Expenditure Committee at its meeting on 7 November.

"In written questions put to New Zealand Post subsequent to the 7 November meeting, the select committee asked: Does New Zealand Post have a copy of the Kroll report or a summary thereof and can it be made available to the Select Committee?

"New Zealand Post responded: As orally advised by the Chief Executive to the Committee, New Zealand Post does not have a copy of the Kroll Report. This report was commissioned by the South African Government and covers many areas not involving New Zealand Post. New Zealand Post does not expect to receive a copy.

"This is the only clear reference New Zealand Post has that this question was asked at the select committee meeting. I have no recollection of that specific exchange, nor does the transcript provided by the select committee record any request for the Kroll report or a draft preliminary report.

"New Zealand Post would have been happy to supply the documents just as we supplied the PricewaterhouseCoopers audit report to the select committee when asked.

"New Zealand Post has been very forthcoming with the Finance and Expenditure Select Committee, appearing in November and December and providing detailed written answers to 72 additional questions put to it by the committee."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news