To be undertaken over the next five months, the Independent Review of Aid Effectiveness will examine the efficiency of Australia's aid and guide the strategic direction of Australia's aid program.

The panel will be chaired by Sandy Hollway AO, a former secretary of two Australian Government departments and CEO of the Sydney Organising Committee for the Olympic Games and a deputy secretary of the Department of Prime Minister and Cabinet with responsibility for foreign aid and other international matters.

Denton forms part of the five-member panel which will consult with key stakeholders including non-government organisations, relevant Australian government departments, partner governments in Australia's region and bilateral and multilateral donors.

In addition to his role as Corrs CEO, Denton is a Prime Ministerial appointee to the APEC Business Advisory Council and a member of the Boards of the Business Council of Australia and the Commonwealth Business Council. He is also Chairman of Australia for the United Nations High Commission for Refugees.

Other panel members include Dr. Stephen Howes, Margaret Reid AO and Bill Farmer AO.

"The recommendations that come out of this review will improve the structure and delivery of our aid as we work with the international community to achieve the Millennium Development Goals," Rudd said.