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Minister comments on Transend report

28 September 2001 Media Statement

Minister comments on Transend report

The Minister for State Owned Enterprises Mark Burton has welcomed the completion of an independent report into New Zealand Post's subsidiary Transend.

"The draft report from PricewaterhouseCoopers, which was made public in June, found no evidence of financial impropriety. I understand their final report confirms that finding. That is pleasing.

"However, PricewaterhouseCoopers have identified governance and policy issues.

"I have already received written assurance that the board of New Zealand Post has revised and tightened travel policies within Transend and has strengthened overall company policy compliance and governance across New Zealand Post's operations.

"I will be reading the full report carefully over the weekend and will be discussing matters raised in it with the chairman of New Zealand Post early next week," Mark Burton said.

ENDS

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