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KPMG CEO Andrew Yates has stepped down over his handling of a senior executive's reports of misuse of confidential client information, as the firm hires Big Six firm Allens to investigate the whistleblower's claims.
A senator has slammed companies for abusing legal professional privilege, after hearing that KPMG has refused to hand over documents in an ASIC investigation into misuse of client information by KPMG auditors.
ASIC is investigating Corporate Travel Management and its auditor PwC, after the travel management company said it would reverse $220 million in revenue after a review found it had overcharged customers.
Auditor BDO has asked the court to stay ASX-listed software company Dubber’s negligence suit over $26.6 million in alleged missing funds while a parallel case by ASIC over alleged false and misleading financial reports is on foot.
ANZ's New Zealand unit is appealing its loss in a class action alleging it failed to repay fees and interest wrongly charged to customers who took out home or personal loans.
Two investment firms have been hit with combined penalties of nearly $100,000 for failing to pay infringement notices issued by the financial crimes regulator.
Westpac has been hit with a $26 million penalty -- just shy of the $30 million sought by ASIC -- for failing to respond to online hardship applications on time on 277 occasions, in conduct described as “grossly negligent”.
The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".
A judge has rejected a bid by a shareholder class action against water treatment firm Phoslock and auditor KPMG to put off paying $1.6 million in overdue cash security while negotiations about an ATE policy are on foot.
A judge has approved a $67 million settlement in a class action against QSuper but has trimmed the payout for the litigation funder, criticising it for a "brazen and unjustified" deduction that was dropped during the hearing.