KPMG Australia faces a crisis following a whistleblower’s allegations that partners used confidential client data to win corporate audit contracts. The scandal could prove more damaging than PwC’s tax leaks because it undermines the trust required for corporate auditing.
The whistleblower – a former audit director – made a formal disclosure in May 2024. The core of the allegations is that partners misused confidential Lendlease board papers to pitch for and win the external corporate audits for Westpac and Dexus. Inside information was also allegedly used to secure lucrative work from Macquarie Group and Westpac.
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The relator managed to connect alleged upcode overcharging to the submission of bills to the government that would have necessarily contained inflated charges. A qui tam relator who did not plead ...