Quigley added that he deemed any fraud within the NBN Co to be unacceptable, and would additionally take full responsibility should fraud occur.

“We’re talking her about a company in her in Australia with 600 people… the governance is very different than a $20 billion company across 130 countries,” he said. “But we have all of the processes and procedures in place to make sure we are watching things carefully.”

Earlier today Opposition Leader, Tony Abbott, said there were continuing questions that the Government and the NBN Co’s management needed to answer.

“Senior officials of the National Broadband Network were in charge at Alcatel when illegal bribes were paid,” Abbott said. “More importantly, the US regulatory authorities identified a culture of lax management at Alcatel.

“Now, the same people who were responsible for the culture of lax management at Alcatel are now running the National Broadband Network and the last thing we want is lax management in charge of a $50 billion-plus enterprise, particularly given this Government’s appalling record of mismanagement when it comes to the stewardship of public money in things like the school halls program and the roof batts program.”