The Australian chief executive of KPMG has resigned amid a growing scandal involving alleged leaks of clients' confidential information. The global accounting firm, headquartered in London, is accused of sharing secret documents internally to win lucrative audit contracts, according to a whistleblower.
The allegations come shortly after competitor PwC was banned from Australian government work for leaking confidential tax data. KPMG has already lost at least one contract worth $10 million a year and faces two inquiries into its conduct.
The scandal has raised serious concerns about breaches of independence rules within the firm. KPMG's Australian arm is under scrutiny for allegedly using confidential information to gain an unfair advantage in securing government contracts.
