THE HALFAX HEIMDALL AUGUR

'Taken for mugs': consultancy sent to corruption body ‘Taken for mugs’: consultancy sent to corruption body Kaaren Morrissey | June 16, 2026 KPMG is facing scrutiny at a parliamentary committee over its alleged misuse of client information. A “big four” consultancy firm holding more than half a billion dollars in taxpayer-funded contracts is facing a referral to the corruption watchdog, ahead of a mammoth inquiry into its conduct. KPMG is being pursued by a federal parliamentary committee over its alleged misuse of client information to win audit work and the mistreatment of a whistleblower. On Friday, the Joint Committee on Corporations and Financial Services will hear from at least 31 witnesses, including 14 KPMG leaders such as chair Martin Sheppard and interim Australian boss Stan Stavros. Committee chair and Labor senator Deborah O’Neill will oversee the hearing. (Lukas Coch/AAP PHOTOS) An unnamed “senior employee who oversaw (an) internal KPMG investigation” is also in the line-up. On Monday, four days ahead of the hearing, the Department of Finance placed a moratorium on KPMG bidding for any new contracts until September 30. The department is also setting up an independent …

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

The heads of one of Australia's biggest construction groups have reiterated their disappointment with a consultancy at the centre of an audit leak scandal, as it prepares to find a new auditor after almost 70 years. Lendlease boss Tony Lombardo and chair John Gillam appeared before a powerful federal parliamentary committee examining the actions of KPMG as part of its oversight of the corporate regulator in Canberra on Friday. The firm, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over the alleged misuse of confidential board papers and the treatment of a whistleblower who raised concerns. In 2023, the whistleblower complained that audit team members had used information in the Lendlease board papers to tender for the auditing work of other corporations. Mr Lombardo confirmed on Friday that in May 2025, he met with KPMG's then-Australia boss Andrew Yates, who raised the whistleblower matter. "It was alleged that the whistleblower had information about the use of Lendlease's board papers and the allegation was around those documents being stored in an individual's locker," he told the committee. Earlier this year, ther…

Australia proposes consulting sector overhaul after scandals Transgressions across high profile firms in recent years spark calls for an industry overhaul Summarise Share Add BT as a preferred source Add BT as a preferred source Published Wed, Jul 1, 2026 · 09:17 AM A position paper outlines reforms that may include heightened oversight by the Australian Securities and Investments Commission, the corporate watchdog. PHOTO: REUTERS AUSTRALIA proposed sweeping changes to the consulting sector including new powers to police the industry and impose larger fines for poor behavior, following a string of scandals in recent years. The Treasury released a position paper outlining reforms that may include heightened oversight, including by the Australian Securities and Investments Commission, the corporate watchdog. Other suggestions include creating term limits for audit companies. Currently, only individual auditors – not their firm – are required to switch out from an audit after five years. Reducing the maximum number of partners in an audit partnership was also proposed. The paper noted recent behaviour from large consulting firms “that is not fair and honest”, and “undermined trust in …

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

KPMG Australia chair and partners exit amid restructuring following ... KPMG Australia chair and partners exit amid restructuring following whistleblower allegations One of the Big Four accounting firms is hemorrhaging leadership after audit partners allegedly misused confidential client information to win new business Share Add us on Google by Editorial Team Jun. 22, 2026 KPMG Australia’s chairman Martin Sheppard and two additional partners are leaving the firm as the fallout from a whistleblower scandal continues to dismantle its leadership ranks. The departures mark the latest chapter in a crisis that has already claimed the firm’s CEO and its head of audit. The scandal centers on allegations that KPMG audit partners accessed confidential board papers from Lendlease, a long-standing client, and used that information to gain a competitive edge when pursuing audit contracts with other major firms. How the scandal unfolded A whistleblower first raised concerns internally in 2024. Those concerns didn’t reach the public until March 24, 2026, when Senator Deborah O’Neill brought the allegations to light. KPMG itself acknowledged on May 29, 2026, that it had fallen short in how it tre…

Greens refer scandal-plagued KPMG to corruption watchdog Briefing Consulting scandal Greens refer scandal-plagued KPMG to corruption watchdog Make us a preferred source Make us a preferred source on Google 10:14am on 16 June 2026 Link copied The news: The Greens have referred KPMG to the National Anti-Corruption Commission (NACC), after the scandal-plagued firm was hit with an effective ban on federal government work. The context: In a statement on Tuesday morning, Greens finance spokeswoman Barbara Pocock revealed she had made the referral over a series of allegations levelled at KPMG, which hold more than $600 million in government contracts. The consulting giant is being reviewed by the Finance Department after allegations its executives accessed and shared confidential information for financial gain. KPMG will not be eligible to receive new government contracts during the three-month review, which will run until the end of September. But Pocock said the government had “learned nothing” from a separate scandal involving PwC, whose executives shared confidential government tax plans to help clients dodge laws they were helping to design. “If this was an ordinary worker, not a Bi…

KPMG Australia Names Ex-SBS Chief Michael Ebeid as Independent Chair ... SYDNEY — KPMG Australia has appointed Michael Ebeid, the former chief executive of public broadcaster SBS, as its first independent chairman, marking a dramatic leadership overhaul as the Big Four firm battles a widening scandal over allegations its auditors misused confidential client information to win lucrative contracts. The appointment, confirmed late Wednesday, comes just a week after chairman Martin Sheppard and two senior partners were forced out following whistleblower claims that staff improperly accessed board papers from real estate giant Lendlease and other major companies to support bids for audit tenders. Chief Executive Andrew Yates and audit assurance head Julian McPherson had already resigned in May. Ebeid, who has served on KPMG's Asia Pacific board since September, acknowledged the firm's deep troubles in his first public statement. "Despite the challenges the firm is facing, my resolve to support its important work is even stronger," Ebeid said. "I believe KPMG can recover, rebuild and emerge a better firm." The new chairman said his mandate is to strengthen independent oversight, make…

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

The heads of one of Australia's biggest construction groups have reiterated their disappointment with a consultancy at the centre of an audit leak scandal, as it prepares to find a new auditor after almost 70 years. Lendlease boss Tony Lombardo and chair John Gillam appeared before a powerful federal parliamentary committee examining the actions of KPMG as part of its oversight of the corporate regulator in Canberra on Friday. The firm, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over the alleged misuse of confidential board papers and the treatment of a whistleblower who raised concerns. In 2023, the whistleblower complained that audit team members had used information in the Lendlease board papers to tender for the auditing work of other corporations. Mr Lombardo confirmed on Friday that in May 2025, he met with KPMG's then-Australia boss Andrew Yates, who raised the whistleblower matter. "It was alleged that the whistleblower had information about the use of Lendlease's board papers and the allegation was around those documents being stored in an individual's locker," he told the committee. Earlier this year, ther…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

KPMG leaked confidential Optus information and surveilled whistleblower’s laptop, inquiry hears <p>International firm owns up to breach of ethics after staff leaked confidential Optus information while bidding for telco contract</p><p>KPMG has admitted to another breach of ethics after its staff leaked Optus’ confidential information to colleagues bidding for an audit contract with Telstra.</p><p>The consulting firm’s executives also surveilled a whistleblower’s laptop and dismissed the individual as someone with “workplace grievances”, a parliamentary inquiry heard on Friday.</p> <a href="https://www.theguardian.com/australia-news/2026/jun/19/kpmg-scandal-optus-leak-as-whistleblower-claims-ntwnfb">Continue reading...</a>

Big consulting firms could be capped and split from their auditing functions under changes to the sector, as the prime minister labels conduct in the industry as completely unacceptable. KPMG has come under fire following revelations its auditors had misused confidential client documents and mishandled a whistleblower who sounded the alarm. Prime Minister Anthony Albanese said issues in the sector need to be addressed. "The behaviour of some of these big accounting firms has been completely unacceptable ... and they need to be held to account, he told ABC TV on Wednesday. "They simply have engaged in behaviour that's not consistent with Australian law or consistent with the way that people would expect big corporations to operate." Assistant Treasurer Daniel Mulino confirmed the government is considering separating consulting services from audit functions, as well as reducing the number of partners. "What we've seen ... was behaviour by large firms that simply isn't good enough," he told ABC Radio. "It's in relation to some of the services that underpin our entire financial services system, audit functions, core accounting and consulting functions, where information, confide…

KPMG: Former CEO Andrew Yates admits to parliamentary committee that ... KPMG: Former CEO Andrew Yates admits to parliamentary committee that whistleblower felt uncomfortable Former KPMG CEO Andrew Yates has admitted a whistleblower was made to feel uncomfortable for raising allegations about confidential information from corporate clients being used to win lucrative contracts. Stephen Johnson The Nightly 5 Min Read 6 hours ago Updated Just now Comments Play Video Government backs down on capital gains tax changes The Australian government has announced significant amendments to its capital gains tax reforms following Senate inquiry pressure. Former KPMG chief executive Andrew Yates has admitted a whistleblower was made to feel uncomfortable for raising allegations about confidential information from corporate clients being used to win lucrative contracts. The embattled ex-corporate leader, who until three weeks ago was still in charge of close to 10,000 staff, also admitted to MPs and senators during a two-hour grilling that he didn’t understand the legal responsibilities of the firm’s 600-plus partners, despite joining the organisation in 1989, and repeatedly insisted he wasn’t …

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

KPMG: Consultancy firm to face federal oversight committee over ... KPMG: Consultancy firm to face federal oversight committee over audit leak scandal, whistle-blower treatment A consultancy giant will take centre stage at a federal parliamentary committee hearing examining corporate oversight following an audit leak scandal. Kaaren Morrissey AAP 2 Min Read 2 hours ago Updated 2 hours ago Comments Play Video HSBC Australia to pay $35m fine for failing to protect customers from scams Concerns have been raised about consultancy giant KPMG’s governance and integrity frameworks. The leaders of a high-profile consultancy face a grilling from a powerful federal oversight committee after making an 11th-hour decision to withhold information from their interrogators. KPMG, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over an audit leak scandal and the treatment of a whistle-blower, raising concerns about its governance and integrity frameworks. Ahead of Friday’s hearing, it told the committee it would not provide the requested documents linked to those matters because they were confidential, subject to professional privilege and co…

The heads of one of Australia's biggest construction groups have reiterated their disappointment with a consultancy at the centre of an audit leak scandal, as it prepares to find a new auditor after almost 70 years. Lendlease boss Tony Lombardo and chair John Gillam appeared before a powerful federal parliamentary committee examining the actions of KPMG as part of its oversight of the corporate regulator in Canberra on Friday. The firm, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over the alleged misuse of confidential board papers and the treatment of a whistleblower who raised concerns. In 2023, the whistleblower complained that audit team members had used information in the Lendlease board papers to tender for the auditing work of other corporations. Mr Lombardo confirmed on Friday that in May 2025, he met with KPMG's then-Australia boss Andrew Yates, who raised the whistleblower matter. "It was alleged that the whistleblower had information about the use of Lendlease's board papers and the allegation was around those documents being stored in an individual's locker," he told the committee. Earlier this year, ther…

Big consulting firms could be capped and split from their auditing functions under changes to the sector, as the prime minister labels conduct in the industry as completely unacceptable. KPMG has come under fire following revelations its auditors had misused confidential client documents and mishandled a whistleblower who sounded the alarm. Prime Minister Anthony Albanese said issues in the sector need to be addressed. "The behaviour of some of these big accounting firms has been completely unacceptable ... and they need to be held to account, he told ABC TV on Wednesday. "They simply have engaged in behaviour that's not consistent with Australian law or consistent with the way that people would expect big corporations to operate." Assistant Treasurer Daniel Mulino confirmed the government is considering separating consulting services from audit functions, as well as reducing the number of partners. "What we've seen ... was behaviour by large firms that simply isn't good enough," he told ABC Radio. "It's in relation to some of the services that underpin our entire financial services system, audit functions, core accounting and consulting functions, where information, confide…

Big consulting firms could be capped and split from their auditing functions under changes to the sector, as the prime minister labels conduct in the industry as completely unacceptable. KPMG has come under fire following revelations its auditors had misused confidential client documents and mishandled a whistleblower who sounded the alarm. Prime Minister Anthony Albanese said issues in the sector need to be addressed. "The behaviour of some of these big accounting firms has been completely unacceptable ... and they need to be held to account, he told ABC TV on Wednesday. "They simply have engaged in behaviour that's not consistent with Australian law or consistent with the way that people would expect big corporations to operate." Assistant Treasurer Daniel Mulino confirmed the government is considering separating consulting services from audit functions, as well as reducing the number of partners. "What we've seen ... was behaviour by large firms that simply isn't good enough," he told ABC Radio. "It's in relation to some of the services that underpin our entire financial services system, audit functions, core accounting and consulting functions, where information, confide…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

KPMG defies powerful Senate committee at the 11th hour The leaders of a high-profile consultancy face a grilling from a powerful federal oversight committee after making an 11th-hour decision to withhold information from their interrogators. Loginor signup to continue reading KPMG, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over an audit leak scandal and the treatment of a whistleblower, raising concerns about its governance and integrity frameworks. Ahead of Friday's hearing, it told the committee it would not provide the requested documents linked to those matters because they were confidential, subject to professional privilege and could prejudice the "administration of justice". "We appreciate that this is not the response the committee was seeking," chairman Martin Sheppard wrote in alettertabled by Labor's Deborah O'Neill, the committee chair. "We remain committed to engaging with the committee in an open and co-operative manner, but need to balance this against parties' legal rights and the need for due process." Clerk of the Senate Richard Pye told Senator O'Neill in aresponsethat the parliament could inves…

Big accounting firms could be forced to divest their auditing functions as they face their biggest shake-up in years following a string of governance scandals. The federal government released anoptions paperon Wednesday proposing a number of radical changes to the sector, toughening regulatory oversight of the partnerships. One proposal would prevent auditing companies providing non-audit services, such as accounting and consulting, which would fundamentally change how professional services firms operate. This would remove the influence of accounting services on auditing and increase confidence in audit quality, Treasury said in its consultation paper, even though it could reduce audit quality and overall efficiency. Such a move would prevent a repeat of the KPMG audit leaks saga. Earlier in 2026, KPMG was mired in scandal after Labor senator Deborah O'Neill aired allegations its auditors misused confidential client information to win more audit work. PwC came under fire for a similar breach in 2022 after leaking federal government tax information to enrich itself and its corporate clients. Trust in auditing underpinned Australia's financial system, which had implications fo…

What began as an internal disclosure within KPMG, alleging that confidential client documents were being misused, has become something considerably larger, writes Nicole Wearne. The recent KPMG Australia controversy has produced four investigations, two senior resignations, a federal parliamentary hearing, and a firm-wide apology. What began as an internal disclosure in May 2024, alleging that confidential client documents were being misused to win work from companies including Macquarie Group and Westpac, became something considerably larger. Three successive investigations concluded the allegations were unsubstantiated. The fourth, conducted by Allens and still ongoing, is now challenging those conclusions. The case raises a key question that boards and general counsel should be considering: when a whistleblower complaint arrives, who conducts the investigation, and does that choice carry risks that have not been properly weighed? The independence problem Appointing existing legal advisers to investigate a whistleblower complaint has obvious advantages. They know the business, the governance structures and the relevant regulatory environment. But that familiarity creates a se…

Not a 'bad apple', insists outgoing KPMG Australia chief - NBR Australian government senator said she did not trust the firm and it was insulting a parliamentary inquiry by claiming privilege for key documents in the whistleblower affair. KPMG Australia has agreed to a three month freeze on bidding for government contracts while the affair is investigated. The former chief executive of KPMG Australia has denied he is a “bad apple” and that the firm is “full of bad apples” as he fronted a parliamentary committee inquiring into theWhistleblower scandalin Canberra. Andrew Yates, who resigned as chief executive over the affair this month after Sign up to get the latest stories and insights delivered to your inbox – free, every day. Sign up to get the latest stories and insights delivered to your inbox – free, every day.

The heads of one of Australia's biggest construction groups have reiterated their disappointment with a consultancy at the centre of an audit leak scandal, as it prepares to find a new auditor after almost 70 years. Lendlease boss Tony Lombardo and chair John Gillam appeared before a powerful federal parliamentary committee examining the actions of KPMG as part of its oversight of the corporate regulator in Canberra on Friday. The firm, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over the alleged misuse of confidential board papers and the treatment of a whistleblower who raised concerns. In 2023, the whistleblower complained that audit team members had used information in the Lendlease board papers to tender for the auditing work of other corporations. Mr Lombardo confirmed on Friday that in May 2025, he met with KPMG's then-Australia boss Andrew Yates, who raised the whistleblower matter. "It was alleged that the whistleblower had information about the use of Lendlease's board papers and the allegation was around those documents being stored in an individual's locker," he told the committee. Earlier this year, ther…

Australia proposes consulting sector overhaul after scandals Transgressions across high profile firms in recent years spark calls for an industry overhaul Summarise Share Add BT as a preferred source Add BT as a preferred source Published Wed, Jul 1, 2026 · 09:17 AM A position paper outlines reforms that may include heightened oversight by the Australian Securities and Investments Commission, the corporate watchdog. PHOTO: REUTERS AUSTRALIA proposed sweeping changes to the consulting sector including new powers to police the industry and impose larger fines for poor behavior, following a string of scandals in recent years. The Treasury released a position paper outlining reforms that may include heightened oversight, including by the Australian Securities and Investments Commission, the corporate watchdog. Other suggestions include creating term limits for audit companies. Currently, only individual auditors – not their firm – are required to switch out from an audit after five years. Reducing the maximum number of partners in an audit partnership was also proposed. The paper noted recent behaviour from large consulting firms “that is not fair and honest”, and “undermined trust in …

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

The heads of one of Australia's biggest construction groups have reiterated their disappointment with a consultancy at the centre of an audit leak scandal, as it prepares to find a new auditor after almost 70 years. Lendlease boss Tony Lombardo and chair John Gillam appeared before a powerful federal parliamentary committee examining the actions of KPMG as part of its oversight of the corporate regulator in Canberra on Friday. The firm, which has more than half a billion dollars in taxpayer-funded government contracts, is feeling the heat over the alleged misuse of confidential board papers and the treatment of a whistleblower who raised concerns. In 2023, the whistleblower complained that audit team members had used information in the Lendlease board papers to tender for the auditing work of other corporations. Mr Lombardo confirmed on Friday that in May 2025, he met with KPMG's then-Australia boss Andrew Yates, who raised the whistleblower matter. "It was alleged that the whistleblower had information about the use of Lendlease's board papers and the allegation was around those documents being stored in an individual's locker," he told the committee. Earlier this year, ther…

A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which has 297 active federal contracts worth $653 million, all…

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

FED:'Taken for mugs': consultancy sent to corruption… - inkl A "big four" consultancy firm holding more than half a billion dollars in taxpayer-funded contracts is facing a referral to the corruption watchdog, ahead of a mammoth inquiry into its conduct. KPMG is being pursued by a federal parliamentary committee over its alleged misuse of client information to win audit work and the mistreatment of a whistleblower. On Friday, the Joint Committee on Corporations and Financial Services will hear from at least 31 witnesses, including 14 KPMG leaders such as chair Martin Sheppard and interim Australian boss Stan Stavros. An unnamed "senior employee who oversaw (an) internal KPMG investigation" is also in the line-up. On Monday, four days ahead of the hearing, the Department of Finance placed a moratorium on KPMG bidding for any new contracts until September 30.

Scandal-hit KPMG Australia appoints new chair, faces fresh criticism ... KPMG Melbourne office building SYDNEY: Embattled consultancy KPMG Australia on Thursday named Michael Ebeid as its first independent chairman, a move that drew criticism from lawmakers over his connection with the firm and its response to an audit leak scandal. The appointment comes a week after KPMG said its chairman and two senior partners would leave as part of a governance overhaul to rebuild trust in the firm following allegations that staff misused confidential client information to win audit work. The CEO and audit boss also resigned in May. "Despite the challenges the firm is facing, my resolve to support its important work is even stronger. I believe KPMG can recover, rebuild and emerge a better firm," Ebeid said in a statement. He said his mandate was to strengthen independent oversight, make integrity central to everything the firm does, and drive cultural and governance reforms needed to build confidence. "My first priority is to restore the governance and effectiveness of the board," Ebeid said. The new chairman said KPMG would also accelerate its CEO appointment process, expecting the board to c…

'No bad apples': ex-consultancy leader defends record A leading consultancy firm at the centre of an audit leak scandal has defended its ethics and culture while being grilled by a Senate committee. Some 13 KPMG executives, past and present, were grilled by the powerful federal panel with oversight of the corporate regulator in Canberra on Friday. The committee took no prisoners as it questioned timelines, procedures, documents and the firm's level of regret over events that erupted into public consciousness on May 29. It was left to Greens senator Barbara Pocock to underscore the inquiry's importance when she asked why the public should trust consultancies, given an earlier scandal involving PwC. "The big four accountancy firms are strong and big companies ... that create careers for young people," KPMG's former chief executive Andrew Yates said. "They're all focused on serving the public good. "They're big, but they make mistakes." In 2023, PwC was found to have ​shared confidential federal government tax information with prospective clients. It was banned from new contracts for more than a year and ended up selling its government advisory business for $1. KPMG, which h…

KPMG audit scandal: Leaked emails reveal chairman Mike Ebeid's ... Companies Professional Services KPMG audit leaks Print article Edmund Tadros and Hannah Wootton Jul 2, 2026 – 3.32pm The new independent chairman of KPMG Australia, Michael Ebeid, accused Labor senator Deborah O’Neill of making false statements to the Senate when she first read out a whistleblower’s allegations of misconduct at the firm in March, suggesting her conduct was inappropriate and unfair. The former SBS boss and Telstra executive made the claims in an extraordinary email chain to other KPMG directors the morning after O’Neill’s March speech. Loading... Save Log in or Subscribe to save article Share Copy link Copied Email LinkedIn Twitter Facebook Copy link Copied Share via... Gift this article Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Login License article Read More KPMG audit leaks KPMG Audit quality Scandal Governance Whistleblowers Big four consultants Telstra Corporation Greens Fetching latest articles

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…

'I resigned': Former premier rues trust in KPMG at fiery hearing Former KPMG director Mike Baird has admitted the accounting giant’s independent directors were initially too trusting of how the firm presented explosive whistleblower claims to the board, and says the company’s response lacked urgency. The one-time premier of NSW, who served as an independent director at the consulting firm from 2022 until September last year, also criticised KPMG’s controversial use of a legal defence to keep details from a Senate inquiry where hegave evidence on Friday. Baird was blunt in expressing his unhappiness with how KPMG responded to the whistleblower’s complaint, which has thrown the consulting giant into turmoil and led to the resignation of its most senior executives and the loss of business from major clients. “As you’ll see in my letter, I was also unhappy with the progress on the whistleblower claims, and my request was that, well, pursuing the external investigation had been secured before I resigned, and that was important to me,” Baird told the hearing. Before he resigned, Baird had been assured by management that there was no substance to claims from a whistleblower thatsenio…

Australians are being told they have a right to be deeply suspicious about trusting big accounting firms after a second consultancy scandal. KPMG Australia executives were grilled by members of a parliamentary committee in Canberra on Friday over allegations the company misused confidential documents from its client Lendlease to develop audit pitches for Westpac and Dexus. The hearing comes after another major accounting firm, PricewaterhouseCoopers Australia (PwC), was found to have leaked secret Australian government tax plans to corporations to help avoid a law PwC had helped write. "Two of the big four firms have the dubious honour of having united the Australian parliament across all political divides around the failure to be honest and to act appropriately," Greens senator Barbara Pocock told KPMG Australia's former chief executive Andrew Yates at a hearing on Friday. She asked Mr Yates what he would say to the Australian people, who now felt deeply mistrustful of the big four firms: KPMG, PwC, EY and Deloitte. KPMG Australia made $653 million from handling 297 contracts for the federal government in 2025, a substantial slice of its total revenue of $2.3 billion, Senator…