HIH director gives money back to save reputation

HIH director and former Blake Dawson Waldron partner Charles Abbott has repaid the A$181,000 (£64,000) that he was paid by the insurance giant on the day before its collapse

Abbott's lawyers, who maintain there was nothing wrong with the invoice, said he paid the money back earlier this month because his reputation was being unfairly damaged.

As the investigation continues, lawyers for Andersen – Tony Meagher SC, and Alan Archibald QC – are next to go on the attack in a bid to limit the liability of 207 of the former big five partners.

The royal commission's investigation catalogues a number of instances in which it believed Andersen failed to legally comply with enforceable audit standards.