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

 

Review of former Chairman's expenses completed


Independent review of former Chairman's expenses completed

TVNZ Acting Chairman Craig Boyce today announced that the independent probity review into the expenses of former TVNZ Chairman Ross Armstrong had been completed.

Conducted by KPMG, the review examined expenses incurred by Ross Armstrong on TVNZ related business in the 16 months ended 30 October 2002.

The KPMG report stated "As a result of our review of the transactions and responses to our queries, we do not find evidence of actual or improper behavior by Dr Armstrong, except for the claiming of seven items which have been identified as personal expenses."

These items, totaling $1032.47 were earlier identified as personal in the review, conducted on 7 November 2002 by TVNZ's Chief Financial Officer and repaid by Dr Armstrong.

The KPMG report stated that of the total expenses of $50,657 incurred by Dr Armstrong during the period, "there are no other items, which we consider, should be similarly categorised and we do not believe that the level of expenses claimed by Dr Armstrong would be considered excessive in light of his position and responsibilities at TVNZ."

With respect to Dr Armstrong's entertaining, the report stated, "We reviewed both the quantum and nature of the entertainment expenses for which Dr Armstrong sought reimbursement. We would not consider the level of expense claimed was wasteful, excessive or inappropriate."

The TVNZ Board has consulted with Dr Armstrong regarding the contents of the KPMG report and he has concurred with its findings.

Mr Boyce said that he hoped the commissioning and release of the independent KPMG report would finally resolve this matter.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Statistics: Annual Inflation Hits A Three-decade High At 5.9 Percent
The consumers price index increased 5.9 percent from the December 2020 quarter to the December 2021 quarter, the biggest movement since a 7.6 percent annual increase in the year to the June 1990 quarter, Stats NZ said today... More>>



Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>



Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>



Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>


Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>