APRA Chairman must resign

17 July 2019

In light of the findings of both the Royal Commissioner and the APRA Capability Review, Centre Alliance Senator Rex Patrick has called on the Chair of APRA to resign.

“The Royal Commission found that APRA was asleep at the wheel and the APRA Capability Review has made findings of ‘variability of leadership, cultural problems, lack of transparency, lack of contestability’. These are matters that relate to leadership,” said Senator Patrick.

“The Chair of APRA has been assigned clear responsibility, has authority vested in him by law and must therefore he held accountable for the performance of the organisation. When you earn $886K you have to be the best in the game, full stop,” he said.

“For far too long there has been a great reluctance for senior officials in the public sector to accept personal responsibility for the failures of performance and governance by, or within, their organisations.

“Ultimately, the buck must stop with someone.

“I am also of the view that the Deputy Chairs, both earning $709K per annum should also consider their ongoing tenure.”

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