SYDNEY (July 2): KPMG Australia on Thursday named Michael Ebeid, the former boss of public service broadcaster SBS, as its first independent chairman, as the firm battles a scandal over whistleblower allegations that staff misused confidential information to win audit work.
The appointment comes a week after KPMG said its chairman and two senior partners would leave the firm following whistleblower allegations it misused confidential board papers from real estate company Lendlease to support bids for major audit tenders.
Andrew Yates, who joined the firm in 1990 and became CEO in 2021, and managing partner of audit and assurance Julian McPherson, resigned in May.
KPMG has admitted mishandling the complaint and launched a fourth investigation after three previous probes failed to substantiate wrongdoing.
"Despite the challenges the firm is facing, my resolve to support its important work is even stronger. I believe KPMG can recover, rebuild and emerge a better firm," Ebeid said in a statement.
He said his mandate was to strengthen independent oversight, make integrity central to everything the firm does, and drive cultural and governance reforms needed to build confidence.
"My first priority is to restore the governance and effectiveness of the board. We will reshape the KPMG Australia board with equal independent and partner representation," Ebeid added.
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