NZ Post under scrutiny

By Phil Boeyen, ShareChat Business News Editor

Tuesday 24th April 2001

New Zealand Post is undertaking an audit of some of its operations after anonymous letters alleged concerns at internal matters such as expenditure approvals.

The state-owned postal company has revealed it appointed PricewaterhouseCoopers to begin the audit nearly a month ago. It should be completed by the middle of next month.

NZ Post says the audit relates to its operations and those of its international subsidiary, Transend.

The company says it had received two anonymous letters from employees expressing concerns around the appointment of staff, expenditure approvals, and operational and business strategies.

Chairman Ross Armstrong says although the claims are unsubstantiated the company's priority is to ensure a thorough investigation.

"New Zealand Post has notified the Shareholding Minister and the Office of the Auditor General about the issue and the process in place. It is New Zealand Post's intention to release the audit findings to both parties."

The anonymous letters were sent in January and March this year and were considered by the NZ Post board last month.

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