Overview
- An anonymous former KPMG executive told a parliamentary committee that speaking out cost them their job and exposed them to retaliation after they raised concerns about partners accessing confidential client papers.
- KPMG chair Martin Sheppard said the firm improperly shared Optus information with a team pitching Telstra’s audit work and has announced his resignation following intense questioning in parliament.
- KPMG’s chief executive Andrew Yates and audit head Julian McPherson quit in late May after the firm acknowledged it mishandled the whistleblower complaint and evidence uncovered by external lawyers.
- Australia’s corporate regulator ASIC has opened formal probes into named partners and Attorney‑General Michelle Rowland has referred the matter to the National Anti‑Corruption Commission as parliamentary documents and the whistleblower’s submission became public.
- Major clients have cut or are reviewing ties — Lendlease ended a nearly 70‑year audit relationship and the government is reviewing about $270 million in contracts — raising fresh calls to close legal and oversight gaps for large partnerships.