Did KPMG learn nothing from the PwC tax leaks scandal?
6/17/202626 min
On The Fin podcast this week, professional services editor Edmund Tadros on the KPMG allegations, and why they might be more damaging than the PwC tax leaks scandal.
This podcast is sponsored by Aussie Broadband.
Further reading:
Move over PwC: Why KPMG audit leaks are the ultimate betrayal
Why the big four firm’s misconduct could be worse than the tax leaks scandal, and a blockbuster hearing date is set for June 19. Plus, are you in talent debt?
KPMG audit leaks scandal – everything you need to know
KPMG Australia faces a crisis following a whistleblower’s allegations that partners used confidential client data to win audit work.
KPMG barred from bidding for federal work for three months
The firm has agreed to stop bidding for federal government work while the Finance Department investigates its handling of a whistleblower complaint.
See omnystudio.com/listener for privacy information.
Clips
Transcript preview
First 90 secondsLisa Murray· Host0:00
[upbeat jingle] The Australian Financial Review I've taken great care to verify via documentation the authenticity of the matters I'm putting on record here in the Senate of the Australian Parliament tonight.
Deborah O'Neill· Soundbite0:14
In the words of the whistleblower So began Labor Senator Deborah O'Neill, as she made public for the first time allegations about Big Four consulting firm KPMG.
Lisa Murray· Host0:26
She claimed the firm had misused confidential client data and mishandled a whistleblower complaint What will you now do to redress the matters that I have raised here tonight? Since that speech in late March, KPMG's chief executive and head of audit have both resigned. The firm has apologized to the whistleblower and announced a fourth investigation. This week, the firm was banned from bidding for federal government work for three months, and it faces a grueling parliamentary hearing on Friday. For professional services editor Ed Tadros, it feels a bit like Groundhog Day Consulting giant PricewaterhouseCoopers will cut more than 330 jobs in Australia as it deals with the fallout from the tax leak scandal Just three years ago, he was the busiest reporter in the AFR newsroom, covering a similar scandal at PwC I speak to a lot of ex-PwC people, and they were all the same.
Ed Tadros· Guest1:23
They were, "How could this have happened again? Did KPMG learn nothing from what happened with PwC?"
Lisa Murray· Host1:29
Welcome