Professor Philip Lane:

That is not a fair characterisation. We are constrained because this person is in front of the workplace commission. I am trying to be as respectful as possible about the differing views.

In terms of the substance of this internal audit process on governance, the process worked as intended, the internal audit process identified a list of procedural issues that need to be dealt with and the bank has been dealing with the issues up to the limits of what it can do. In terms of the process, this is the way internal audit is supposed to work.

It is not a correct description to state that this person was the internal auditor on this project. There was a team of people, of which this individual was one person. The language the Deputy is using is not exactly precise about the role of the individual versus others involved in that project.