KPMG board delays CEO deliberations as partners fined for Telstra audit leaks
The KPMG board tabled its weekend CEO discussions amid fears of a domino effect of bad news for the firm.
KPMG Australia’s board has delayed discussions over a new CEO as the scandal engulfing the firm widens, with a parliamentary committee set to grill the firm and its directors over their behaviour.
KPMG’s board was set to meet on the weekend to discuss who would succeed former CEO Andrew Yates, as first reported by Capital Brief. Chief financial officer John Sams, head of tax and legal Ben Travers and national managing partner of consulting Brad Miller are widely considered candidates for the role. KPMG is expected to name the next CEO by the end of July.
Sources told Capital Brief the weekend’s planned discussion was tabled to focus on immediate concerns over allegations the firm shared unredacted Telstra audit information while bidding for an Optus tender.
Insiders say the KPMG board is concerned about a domino effect, with some large clients dropping the firm’s auditors.
