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https://theconversation.com/kpmg-lost-its-clients-trust-yet-kept-winning-government-contracts-heres-what-needs-to-change-284733>
"This Friday, senior current and former leaders from major consulting and audit
firm KPMG will face a barrage of questions at a parliamentary inquiry in
Canberra.
In March this year, Labor Senator Deborah O'Neill revealed a KPMG whistleblower
had alleged KPMG partners secretly accessed confidential client information to
help them win audit work from other companies.
On Monday, the federal finance department announced it was conducting an
independent review of KPMG over the allegations. The Greens have since said
that doesn’t go far enough and have referred KPMG to the National
Anti-Corruption Commission.
KPMG Australia’s interim chief executive Stan Stavros said on Monday “we
acknowledge that individuals in our firm have made mistakes” and pledged to
“learn from what has occurred”. His statement did not say exactly what those
mistakes had been.
Australia’s four biggest consulting firms – EY, Deloitte, KPMG and PwC – have
all earned billions in taxpayer-funded contracts. Part of that work has been
for their audit services.
Auditors are meant to protect taxpayers’ and investors’ money, by keeping
governments and businesses accountable. Yet just a few years ago, another of
those “big four” faced a similar scandal.
What needs to happen to stop history repeating?"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
