The Australian chief executive of KPMG has resigned and the firm faces losing lucrative government contracts following allegations of leaking confidential client information. The scandal involves the sharing of secret documents internally to win audit contracts, according to a whistleblower.
KPMG, headquartered in London, is accused of breaching independence rules around the same time competitor PwC was banned from Australian government work for leaking tax data. The firm has already lost at least one contract worth $10 million a year and will face two inquiries.
The allegations come amid heightened scrutiny of consulting firms in Australia. KPMG has not commented on the specific claims but stated it is cooperating with investigations.
