Wesfarmers' full-year profit will be hit by write-downs and restructuring costs of about $2 billion related to its Target department stores and Queensland coal mine.
Several recent high-profile cases of questionable corporate behaviour that have come to light here, and around the world, have a common element – whistleblowers.
Wesfarmers has disclosed that $18.1 million worth of supplier rebates had artificially inflated Target's half-year earnings and up to 10 people were involved in the collusion.
Wesfarmers has announced the resignation of Target managing director Stuart Machin, just days after it confirmed an investigation into accusations that supplier rebates may have artificially inflat
