Overview
- Senator Deborah O’Neill’s parliamentary speech first publicised a whistleblower’s claim that KPMG partners had misused clients’ confidential audit documents.
- Michael Ebeid initially sent emails disputing O’Neill’s account and describing the firm’s processes as thorough.
- Parliamentary committee documents published by O’Neill include a personal apology from Ebeid in which he says his earlier email was wrong and credits O’Neill’s concerns with helping uncover serious wrongdoing.
- Ebeid has been acting as KPMG’s de facto chairman and still requires approval from KPMG partners to formalise the role through a pending vote.
- The scandal has led to senior departures at KPMG and a regulator probe, and the partners’ decision and further committee hearings will shape the firm’s ability to restore client trust.