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Macquarie Group is conducting a review into the appointment of KPMG as its auditor, as the accounting giant reels from a whistleblower's accusations of client data breaches.
KPMG has appointed John Sams as its new CEO, promising the homegrown executive will deliver on an action plan drafted in the wake of the leaks scandal to build a “stronger, more accountable firm”.
KPMG has fined seven partners, some as much as $180,000, for misusing confidential client information in May.
An initial investigation by law firm Allens that cleared KPMG over a whistleblower's allegations of misuse of confidential data has been slammed by parliamentary committee members as lacking independence.
Software company Dubber has failed in a bid to stay its case against BDO Audit pending the outcome of ASIC's action against the auditor, with a judge ordering discovery to proceed before the litigation is put on ice.
The fallout from the KPMG leaks scandal has widened, with the corporate regulator launching a review of audit complaints to the Big 4 accounting firms.
KPMG's newly appointed chairman Mike Ebeid previously accused Labor senator Deborah O'Neill of making "completely false" statements to the senate when she revealed a whistleblower's allegations of misconduct at the firm.
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.
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.