After the KPMG scandal, Australia's regulator will release the review results of the Big Four accounting firms.
After a series of scandals hit the industry, Australia's corporate regulator plans to publish some findings of its review into the "Big Four" audit and consulting firms by the end of this year. The Australian Securities and Investments Commission launched the review earlier this year after allegations that KPMG Australia misused confidential client data to win new corporate clients. According to a published excerpt of her speech, ASIC chair Sarah Court will say in a speech later on Tuesday that the review focuses on "issues raised in internal complaints". "The review is ongoing and we intend to share some of the overarching findings before the end of the year," she said. In the latest fallout from the long-running scandal, ANZ Group said earlier this month it had dismissed KPMG Australia, ending a 57-year external audit relationship. In addition, Macquarie Group in August reversed its plan to appoint KPMG as auditor; KPMG has also lost clients including Insurance Australia Group and property giant Lendlease.
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