The same document with some very minor changes was, at the Bank’s request, subsequently provided by the NPA Manager’s lawyer directly to the Freehills team who were engaged by the NPA Board sub-committee, also on terms of strict confidentiality and on the basis that it would be returned to the NPA Manager’s lawyer which it was.
On 7 June 2007 the Reserve Bank senior management discussed the draft audit report with Mr Thompson. It was agreed that the draft audit report contained serious findings and that the NPA Board needed to meet and put in place a detailed response to the matters raised.