KPMG chairman, two Audit Partners announce their exits amid public scandal
The leadership exodus at KPMG Australia continues as Board Chairman Martin Sheppard and two Audit Partners exit the firm, which unveiled an Action Plan in a bid to recover from the audit leak scandal.
KPMG announced Sheppard's departure this week, as well as the exits of Audit Partners Paul Rogers and Eileen Hoggett, who recently stepped down from her chief operating officer position.
Rogers and Hoggett were among the named individuals involving the misuse of Lendlease board papers, where a whistleblower alleged were taken by the pair and "physically secured in Ms Hoggett's locker."
Their exits come following the departure of CEO Andrew Yates and Julian McPherson, KPMG Australia's managing partner of audit and assurance, and in the wake of reports that KPMG's global leadership is preventing further partner departures in Australia.
KPMG said a process is underway to appoint a new CEO, who will refresh the Big Four company's executive team.
"The decisions announced today are necessary and immediate," said interim CEO Stan Stavros in a statement. "We did not meet the standards expected of us, and we recognise the impact this has had on the whistleblower, our people, our clients, and the community."
The changes in leadership come as KPMG Australia published an Action Plan that aims to "address the integrity issues and strengthen accountability" across the firm.
The plan outlines...
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