The latest Big Four scandal isn’t going away; it’s snowballing, with all KPMG federal government contracts to be placed under scrutiny.
Toxic fallout from besieged audit and consultancy firm KPMG’s snowballing governance woes is now primed to land on all three tiers of Australian government, with federal, state, and local governments bracing for impact.
In a scenario that is set to eclipse the massive PwC scandal that resulted in the emergency amputation of its consulting arm — to be renamed Scyne, following the exposure of that firm’s aquiferous confidentiality bedrock — account-holders are shopping for rollerblades.
Things started to really implode for KPMG late last Thursday and into Friday, after the federal Department of Finance declared the latest scandal a “significant event” under its current procurement rules, a rehab kick aimed at sin-binning governance transgressors (like PwC).
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