The chief executive of accounting firm KPMG, Andrew Yates, has resigned effective immediately after the mishandling of whistleblower allegations.
"I have been committed to a 'speak-up culture' in our firm; it is clear that in this case we have let ourselves down, and I take accountability," Mr Yates said in a short statement.
Auditing partner Julian McPherson has also stepped down.
"KPMG Australia confirms its treatment of a whistleblower and investigation into their allegations fell short of the firm's expectations, those of the whistleblower and the broader community," KPMG said in a statement.
It reveals a whistleblower brought allegations regarding client documents being inappropriately shared internally to the senior leadership team.
An internal investigation did not substantiate the claims, with a further external legal firm also supporting the outcome.
However, after the whistleblower raised further complaints with the board, a different external law firm, Allens, was appointed to complete another investigation into the claims, which is ongoing.
KPMG says the initial investigations were not conducted with the "necessary rigour required" and "fell short of the firm's expectations".
KPMG says the ongoing investigation by Allens has revealed a further, separate incident in which internal documents containing client information were inappropriately shared internally.
KPMG has reported this new finding to impacted clients,...
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