Lendlease is poised to end its 68-year audit relationship with embattled consulting group KPMG after learning that one of the firm’s auditors illicitly accessed its boardroom documents.
Lendlease on Monday revealed its audit contract with KPMG was under review, and sources said the company was beginning the significant process required to change auditors.
“It is not appropriate to make a change in auditors this close to financial year end. We will be reviewing our audit services following the completion of FY26 reporting,” a Lendlease spokesperson said on Monday.
In March, Lendlease chief executive Tony Lombardo told KPMG the actions of its employees were “not acceptable” when the firm confirmed boardroom documents were accessed. KPMG admitted to this only after Labor Senator Deborah O’Neill revealed whistleblower allegations in parliament. KPMG was paid more than $10 million last year for its services to Lendlease.
Lendlease, a construction giant, is the first major corporate client to put its relationship with KPMG under review, as the accounting and consulting group grapples with an escalating crisis spared by a whistleblower’s complaint.
KPMG Australia boss Andrew Yates and senior partner Julian McPherson abruptly resigned on Friday after the company confirmed confidential client data had been shared, and potentially used to win new business with other clients, following explosive claims from a whistleblower.
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