NAB delays report on ‘rogue trading’ losses

The report, commissioned by NAB and conducted by Pricewaterhouse-Coopers, was originally scheduled for release in February. But new NAB chairman, Graham Kraehe, said last week: "It is important that this work is done thoroughly rather than rush to an arbitrary timetable."

Kraehe, who took over as chairman after former chairman Charles Allen resigned on February 16, reiterated that the report would show "several control breakdowns".

The comments were made in Kraehe’s letter to shareholders

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