Accounting

KPMG's national chairman Martin Sheppard is stepping down to make way for an independent chair, and audit partners Eileen Hoggett and Paul Rogers are leaving the firm.

Under pressure from parliamentary committee members, KPMG said late Friday it would waive privilege and hand over investigation reports from Allens and Ashurst, after initially resisting orders for documents.

Facing the hotseat over KPMG's treatment of a whisteblower, the accounting giant's former CEO Andrew Yates told a parliamentary committee hearing on Friday he took accountability and was not a "bad apple".

ASIC’s chair says the corporate cop is investigating individuals at KPMG for alleged misuse of confidential information belonging to Lendlease and Optus to win new work, but says it is hamstrung by current law from undertaking a broader probe. 

Lendlease chair John Gillam has said the company's board was “deeply discontented” with KPMG’s alleged misuse of its confidential information but was stuck with the accounting firm until the end of the financial year. 

Building giant Lendlease has told besieged auditor KPMG it expects to be compensated for the cost of dealing with the fallout of the accounting giant's misuse of its confidential data.

A former owner of the Ubertas property development group is suing Deloitte Private and Pitcher Partners, alleging they gave her negligent advice that led to an audit and a $12 million tax bill.

Partners from Allens and Ashurst and senior executives at Lendlease are among those appearing at next week's parliamentary committee inquiry into KPMG's misuse of client data.

ASIC has told a senate estimates committee that it is now formally investigating KPMG in the wake of allegations the firm misused client data. 

Partners from Allens and Ashurst and senior executives at Lendlease are among those appearing at next week's parliamentary committee inquiry into KPMG's misuse of client data.