Employee dismissed after internal review identifies unexplained financial transactions

17 February 2016

Following an internal review process conducted by Auckland Airport, the company has identified several unexplained financial transactions by a non-executive employee. Auckland Airport has dismissed the individual employee concerned and has referred the matter to the New Zealand Police. Civil proceedings have also been commenced against the individual concerned.

The Auckland Airport Board has engaged our internal auditors, EY, to undertake a full forensic investigation. The investigation by EY has identified $1.84 million to date of unexplained financial transactions. The EY investigation is continuing.

Phil Neutze, Auckland Airport’s chief financial officer, says, “The Board and Management take this matter very seriously. With the assistance of EY we have taken immediate steps to review our internal processes and controls.”

“It is important for investors to note that while this is a very serious matter, the sum of money involved does not impact our current financial statements or previous reported results.”

“We are unable to comment further at this time due to the ongoing Police investigation and because the matter is now before the courts,” says Mr Neutze.

Ends

Contact:

Simon Lambourne
+64 27 477 6120
simon.lambourne@aucklandairport.co.nz