A senate hearing in Canberra examines whistleblower accusations that KPMG staff used inside information to win lucrative audits, triggering a wave of leadership resignations including the CEO, the audit chief, and the chairman.

Witnesses summoned to testify include the chairs of Westpac’s audit committee and Macquarie’s chairman and CFO, with Optus’ CEO and Dexus’ chair also anticipated to appear.

KPMG’s leadership transition is under scrutiny after a bungled response to the scandal, with former CEO Andrew Yates and chairman Martin Sheppard among those who left or were ousted.

Parliamentary coverage notes the firm’s approach and handling of the inquiry has drawn criticism during the process.

KPMG has claimed legal professional privilege over certain information, though the inquiry has challenged that stance.

The loyalty of law firms to KPMG is portrayed as a calculated risk, highlighting reputational costs and the ongoing significance of the committee’s findings for corporate Australia.

A December 2025 Allens document suggested staff denials were credible, raising questions about whether mailboxes and communications were thoroughly reviewed.

The timeline provided emphasizes actions up to June, with the context of the broader investigation.

Reviews by external firms Ashurst and Allens are criticized as limited and not independent, failing to interview key sources or verify materials.

More hearings and findings are anticipated as the committee continues its investigation into the KPMG scandal.

Westpac’s general counsel outlined the allegations as investigated but not substantiated at the time, framing the issue as fully explored.

The committee raised concerns about Chinese walls at KPMG not being properly implemented, potentially allowing confidential information to flow across engagements.