The Cole Inquiry has found that commonwealth agencies had no involvement or knowledge of the actions of AWB in the Oil-for-Food scandal.
Federal Attorney General Philip Ruddock has tabled the report to the House of Representatives, quoting Commissioner Terence Cole who said he could find no reason do doubt the evidence given by ministers.
"I can find no evidence that any of the Prime Minister, Foreign Minister, Minister for Trade or Minister for Agriculture, Fisheries and Forestry were ever informed about or acquired knowledge of the relevant activities of AWB," he said, quoting from Mr Cole's findings.
"I can find no evidence to support an inference that the Department of Foreign affairs and Trade had turned a blind eye to the allegations."
Mr Ruddock praised Commissioner Cole for his independence throughout the inquiry, saying that the government would act on his recommendations.
Opposition Leader Kim Beazley condemned the government in a reply speech, saying that they were "scuttling away from accountability."
"This negligent government allowed $300 million in bribes to go to Saddam Hussein, and now this arrogant government goes to its people to say 'it's not our fault,'" Mr Beazley said.
The report, along with the comments of the Attorney General, has been forwarded to the Parliament's main committee.
