A KPMG whistleblower says the Australian Securities and Investments Commission (ASIC) has to be "dragged kicking and screaming" to investigate alleged misconduct disclosures at the accounting firm.
The regulator is being hauled before Friday's parliamentary inquiry, which is investigating how KPMG audit partners allegedly misused client data and then mishandled a whistleblower's complaint about it.
The inquiry has since heard from other whistleblowers at KPMG and other big four firms.
ASIC is expected to face tough questions about how it has responded to whistleblowers making, or attempting to make, disclosures about alleged misconduct at accounting firms.
In December 2021, another KPMG whistleblower wrote to ASIC about separate claims that the firm may have breached corporations law.
In an email to ASIC in June, the whistleblower detailed how ASIC rejected their earlier attempt at making a disclosure, alleging non-compliance by KPMG over audit transparency, and accusing the regulator of taking a "condescending tone" in communication with them.
This, the whistleblower said, "reflects a very poor attitude to whistleblowers and whistleblowing" at ASIC.
"It may well be that ASIC will need to be dragged kicking and screaming to take action that has been clearly available against at least one of the big four,"
the whistleblower's email to ASIC said.
"What has become increasingly — and I think close to undeniably clear — is that an improper state of affairs exists in relation...
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