[SINGAPORE/MELBOURNE] Australia’s central bank and one of the country’s biggest pension funds are scrutinising and distancing themselves from KPMG Australia as whistleblower misconduct allegations trigger a widening crisis for the Big Four accounting firm.
The Reserve Bank of Australia (RBA) governor Michele Bullock told senators at a hearing on Thursday (Jun 4) that it will likely not reappoint KPMG to run its whistleblower phone hotline. The central bank had previously outsourced the “Fair Call” hotline to KPMG, but will now be seeking new bids, Bullock said, adding that “I don’t think we will be reappointing them to the whistleblower service”.
The state government of New South Wales (NSW), meanwhile, “is seeking assurances about the management of confidential information and whether any personnel under investigation are currently working on NSW Government contracts”, in light of “serious concerns which have been raised about KPMG’s work practices”, according to a statement.
Rest, a pension fund managing A$105 billion (S$96 billion) for more than two million Australians, told Bloomberg it’s “concerned by the information in the public arena and we are seeking more information about what has transpired”. KPMG is listed as an internal auditor and one of two tax agents in its 2025 annual report.
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