KPMG Australia Fallout Deepens as RBA and Pension Fund Review Ties
KPMG Australia is facing increasing pressure as major institutions review their relationship with the firm following whistleblower allegations involving the misuse of confidential client information. The Reserve Bank of Australia is unlikely to renew KPMG’s whistleblower hotline contract, while pension fund Rest and the New South Wales government are seeking additional information and assurances. The controversy follows the resignation of KPMG Australia’s CEO and audit chief and has intensified scrutiny of Australia’s consulting industry. An independent review is now underway as regulators, clients and government bodies continue to examine the firm’s conduct.