Key Points:
Forensic accountants take careful instructions and make
very clear, in the report, any limitations on the material which
was available to them.
A recent focus of a Senate Inquiry is allegations of "front
running" by an employee of IOOF (IOOF commissioned a report
into the matter by PwC).
The report concluded that "we did not identify any
information to indicate [redacted] engaged in front running from 22
December 2009 to March 2015 through research reports released by
IOOF/Bridges ... We identified the potential for [redacted] to
front run using an asset management role that he held in late
2008/early 2009 ...".
The report also states that IOOF advised PwC that review of the
relevant person's computer or email files was not required in
order to identify any other potential inside information. Certain
other "scope exclusions" are noted in the report.
