KPMG leaked confidential Optus information and surveilled whistleblower’s laptop, inquiry hears
Summary
KPMG admitted that some of its employees leaked confidential information from Optus to colleagues trying to win another audit contract with Telstra. The company also monitored a whistleblower’s laptop and dismissed their concerns before the issue became public during a parliamentary inquiry.Key Facts
- KPMG staff leaked secret information from Optus to another team bidding for Telstra’s audit contract.
- A whistleblower raised concerns but was treated as having personal complaints rather than serious issues.
- KPMG’s chair confirmed the leak and said confidential information should not have been shared.
- Former CEO Andrew Yates resigned after confirming the leak, receiving a large payout.
- The accounting body Chartered Accountants Australia and New Zealand is investigating KPMG and its staff involved.
- KPMG is also being investigated by the Australian Securities and Investments Commission over leaks related to Lendlease.
- Lendlease plans to end its long-standing audit contract with KPMG and seek compensation for costs.
- KPMG’s culture was criticized for prioritizing profit over integrity and failing to protect whistleblowers.
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