Audit trail
KPMG facing parliament, regulators and clients all at once.
Good morning.
Capital Brief’s Jasmyn Goh writes this morning that federal government agencies including the CSIRO and ATO are seeking assurances from KPMG that their confidential data has not been misused.
Meanwhile, a parliamentary hearing on 19 June has lined up 13 current and former partners, independent board members including former NSW premier Mike Baird, and the CEOs of Lendlease and Allens to explain themselves. Senator Deborah O’Neill, who’s chairing the hearing, has already warned that legal professional privilege won’t fly. “It runs out at the door of the Senate and the House,” she told the AFR.
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Shares in outdoor advertising group oOh!media surged on Tuesday after it confirmed it had received a conditional non-binding indicative takeover offer from Bain Capital and other financial sponsors, on terms consistent with a rival bid from I Squared Capital, putting two suitors in competition for the $765 million company.
