Well, that explains it. While using an independent board review as cover, the CPA board, or what is left of it, has just allowed Alex Malley to complete one of corporate Australia’s most audaciously planned heists. Forget George Clooney and Ocean’s Eleven -- Malley went one better and is walking away after being "sacked" from his role as CEO of the CPA with a payout of $4.9 million.

In a brief, one-page statement, the new CPA president, 79-year-old Jim Dickson, stated: “In the interests of full disclosure, CPA Australia has made a payment of $4.9 million in accordance with our obligations”.