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Emotional Xenophon calls in the auditors

Independent senator Nick Xenophon has commissioned an audit of his financial affairs after admitting he “stuffed up” by failing to declare his directorship of a company run by his father.

Jun 03, 2016, updated Jun 03, 2016
Nick Xenophon campaigning in Melbourne this morning. Photo: AAP/Julian Smith

Nick Xenophon campaigning in Melbourne this morning. Photo: AAP/Julian Smith

The SA senator says failing to disclose his role in Adelaide Tower Pty Ltd in the parliamentary register of interests in 2012 is “embarrassing” and he’ll correct it.

“I’m actually undertaking an audit through my accountant, to make sure there’s nothing that’s been unsaid or undeclared,” he told reporters in Melbourne on Friday.

Xenophon says he is changing all his declaration procedures to ensure someone will independently “double and triple check” anything he needs to declare, at his own expense.

He says he was shocked it was not on the public register, and that information about his directorship was publicly viewable through an ASIC search.

Xenophon joined Adelaide Tower four years ago to help his father out of financial trouble.

The company had previously owed millions in tax but the senator said he didn’t have anything to do with the tax issues and his father, Theo Xenophon, had resolved the problem.

Xenophon said having family dragged into the election had taken his campaign to a new low.

“He’s 85 years old, I love him dearly … I just wish he wasn’t brought into this,” he said.

Earlier on Friday, Xenophon told 891 ABC radio “unambiguously, I stuffed up” on the declaration failure, revealed on the front page of The Australian today.

“I became a director in 2012 to help my father who is now in his mid 80s who I love very much and very supportive of, in order to assist him to get some refinancing,” he said.

“I needed to be a director in order that I could assist with those loans, so that’s that. It was an important thing for me to do to support my father who I adore.”

He said his father “didn’t sign up for this”.

Xenophon said “I’m fair game for any criticism or scrutiny”, but he hoped his father could be left alone.

“I’m worried about him, I’m worried about his welfare, I’m just worried about how he would be upset by this. If he’s listening this morning – and he’s a regular listener of you guys – I just want to say again that I love him very much and that I stand by him.”

– with AAP

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