ASIC Investigates KPMG Over Lendlease Data Misuse Claims, Targeting a Number of Auditors
Updated
Updated · The Guardian · Jun 5
ASIC Investigates KPMG Over Lendlease Data Misuse Claims, Targeting a Number of Auditors
3 articles · Updated · The Guardian · Jun 5
Summary
ASIC chair Sarah Court said the regulator formally opened an investigation this week into KPMG and a number of registered company auditors within the firm.
The probe follows whistleblower claims that KPMG improperly used confidential information from client Lendlease to win audit work from other companies.
Court told Senate estimates ASIC was trying to get to the bottom of the evidence and had intensified its engagement with KPMG.
Andrew Yates, KPMG Australia's chief, stepped down last week after taking responsibility for the firm's failure to properly respond to the allegations first aired in the Senate in March.
The case carries wider significance because ASIC and multiple state and federal agencies are themselves users of KPMG services.