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Leadership, culture and employee deceit : the case of the National Australia Bank

Dellaportas, Steven, Cooper, Barry J. and Braica, Peter 2007, Leadership, culture and employee deceit : the case of the National Australia Bank, Corporate governance : an international review, vol. 15, no. 6, pp. 1442-1452.

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Title Leadership, culture and employee deceit : the case of the National Australia Bank
Author(s) Dellaportas, Steven
Cooper, Barry J.
Braica, Peter
Journal name Corporate governance : an international review
Volume number 15
Issue number 6
Start page 1442
End page 1452
Publisher Wiley - Blackwell Publishing
Place of publication Oxford, England
Publication date 2007-11
ISSN 0964-8410
1467-8683
Keyword(s) Australia
banks
board of directors
risk management
business ethics
Summary The National Australia Bank (NAB), one of Australia's largest banks, announced losses in 2004 of AUD$360 million due to unauthorised foreign currency trading activities by four employees who incurred and deceptively concealed the losses. The NAB had in place risk limits and supervision to prevent trading desks ever reaching positions of this magnitude. However, the risk management policies and procedures proved ineffective. The purpose of this paper is to analyse the deceit, via a content analysis of official investigative reports and other published documents, to determine the extent to which the Bank's culture and leadership may have influenced the rogue traders' behaviour. The findings suggest that cultural issues, and the role played by the Bank's leaders, were influential in creating a profit-driven culture that ultimately impacted the Bank's foreign exchange operating activities.
Notes Reproduced with the kind permission of the copyright owner.
Language eng
Field of Research 150102 Auditing and Accountability
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2007, Wiley - Blackwell Publishing
Persistent URL http://hdl.handle.net/10536/DRO/DU:30007470

Document type: Journal Article
Collections: School of Accounting, Economics and Finance
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.