KPMG Australia’s new chief John Sams is promising a culture rebuild, but voices in Canberra are questioning whether a 23-year insider can deliver real change.
Accounting and consulting
The KPMG board tabled its weekend CEO discussions amid fears of a domino effect of bad news for the firm.
Lawry, who will be replaced by KPMG lead engagement partner Brendan Twining, has retired from the KPMG board, the firm and the partnership.
The board will meet to choose its next CEO this weekend as the firm seeks stability after executive departures, job cuts and the audit leaks scandal.
Independent providers are reporting rising interest from corporates, arguing hotlines should not be bundled with other services or used as a lead generation tool.
‘We lack a bit of a stick’: Mid-tier accounting firms make their move as Big Four reel from scandals
The head of one of Australia’s largest mid tier accounting networks is calling for tougher, US-style penalties for misconduct to deter the Big Four from wrongdoing.
The major professional services firms say they want to rebuild trust in the sector as the government considers a radical overhaul of their business models.
One of the consulting industry’s fiercest critics in Canberra, who has previously called for the ‘big four’ to be split apart, says Australians have had enough of their scandals.
The livestream of a recent public hearing was taken down and edited over concerns identifying information was disclosed.
The whistleblower at the centre of the audit scandal might not actually be a whistleblower, in the strict legal sense. It’s concerning, and not just for the individual himself.
The KPMG inquiry has turned the spotlight on law firms, privilege and the blurry line between independent investigation and corporate protection.
After leaks, resignations and a bruising Senate grilling, KPMG faces the real test of any business scandal: whether it hits the bottom line.
The whistleblower at the centre of the audit leaks scandal engulfing the accounting giant has told a parliamentary inquiry they were subject to retaliation after coming forward.
The former NSW premier put KPMG chair Martin Sheppard on the back foot over the firm’s refusal to release data leak reports.
More KPMG clients are reviewing their arrangements with the firm, as Greens Senator Barbara Pocock called for it to be banned from providing whistleblower hotline services.
CSIRO, AEC, BoM and the ATO are demanding KPMG confirm their data has not been misused as the fallout from its audit leaks scandal continues.
KPMG has assured the Australian National Audit Office its information has remained confidential, but the office is seeking more details.
Michele Bullock has all but confirmed the central bank won’t renew a contract with KPMG to supply its whistleblower hotline, and a separate deal for immigration services.
Labor Senator Deb O’Neill has labelled KPMG’s provision of whistleblower hotline services to corporate clients as “an untenable proposition”.
Australian businesses are proving far more cautious over AI adoption than their peers several developed economies, including the US and Canada.
The architect of Scott Morrison and Boris Johnson’s election victories has expanded his advisory firm with a new Melbourne office and a key senior hire.
Embedding AI into an organisation can lead to a 65% growth in revenue but only half of Australian companies have an AI plan.
Gordon Merchant is also suing consulting giant EY over tax advice that landed him with a $50 million bill.
