Original article by Glenda Korporaal
The Australian – Page: 13 & 19 : 4-Dec-24

Deloitte has made 26 recommendations following its independent review of payments made by construction industry superannuation fund Cbus to the CFMEU. A spokesman for Cbus has indicated that it will accept ‘in principle’ all of the recommendations in Deloitte’s report, and it will work with the accounting firm to develop an action plan to implement each of the recommendations. Amongst other things, Deloitte concluded that Cbus lacked appropriate procedures to ensure that payments to the union were in accordance with its requirement to act in the best financial interest of members.

CORPORATES
CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, DELOITTE TOUCHE TOHMATSU LIMITED