CA ANZ has expressed disappointment in the serious allegations involving KPMG Australia and the handling of client information.
As reported, ASIC has launched a formal investigation into KPMG following whistleblower allegations that auditors improperly shared client documents to secure audit work.
ASIC said it has “deep concerns” and is exploring legal avenues to act against individuals involved, while the federal government is considering restricting KPMG’s access to Commonwealth contracts.
In a public statement released yesterday, CA ANZ said it is investigating the matter, which relates to possible action under the accounting body’s by-laws.
Simultaneously, CA ANZ chief executive Ainslie van Onselen has exercised powers under the regulations to direct targeted reviews of KPMG Australia and other major Australian firms, beyond the regular cycle of quality practice reviews.
These reviews will ultimately examine how confidential client information is handled and how an ethical culture is promoted.
CA ANZ reminded members of their ethical obligation to abide by the five fundamental principles outlined in the relevant Code of Ethics: integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.
Accounting Times asked a CA ANZ spokesperson to comment, and the spokesperson reinforced the accounting body’s current position on the situation.
“CA ANZ's independent Professional Conduct Committee (PCC) is actively investigating,...
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