KPMG Australia’s CEO Andrew Yates quits over whistleblower scandal
Summary
KPMG Australia’s CEO Andrew Yates has resigned after the firm failed to properly address whistleblower complaints about misuse of client information. Another senior executive, Julian McPherson, will also step down as the company continues its investigation.Key Facts
- Andrew Yates became KPMG Australia’s CEO in 2021 and resigned immediately over a whistleblower scandal.
- The whistleblower raised concerns about improper sharing of client documents within KPMG.
- KPMG’s initial internal investigation did not find proof but was later admitted to be insufficient.
- Julian McPherson, head of audit and assurance, will leave the company after transitioning his client work.
- KPMG acknowledges it did not meet internal and public expectations in handling the whistleblower’s case.
- The Australian Securities and Investments Commission (ASIC) is conducting a preliminary investigation into KPMG auditors.
- KPMG states it is continuing to look into the matter internally.
- The firm expressed a commitment to a culture where employees feel safe to report problems (“speak-up culture”).
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