NAB report to reveal ‘control breakdowns’

"The report won’t make pretty reading. It will show a number of control breakdowns in the organisation," said Kraehe of the report NAB commissioned to investigate its losses of A$360 million (US$277 million) from unauthorised options trading.

The results of the investigation will play a central role in strategy for the bank, Kraehe said. "We are absolutely determined that this report will get to the facts and disclose them, and deal with them openly."

Kraehe, who was speaking after his appoin