ASIC probes KPMG Australia partners over confidential data misuse

Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has launched a formal investigation into three KPMG Australia partners following whistle‑blower allegations that confidential client information was misused to win audit contracts. The allegations say that board papers from Lendlease were used to bolster bids for audit tenders at Westpac and Dexus. Partners named include Paul Rogers and former COO Eileen Hoggett, identified after the resignations of KPMG’s CEO and audit chief. ASIC Chair Sarah Court said the regulator has “deep concerns” and can act against individual auditors but not the firm itself. The Australian Department of Finance is reviewing the matter and may suspend KPMG or bar it from future federal contracts. Several clients, such as Dexus, pension fund REST and the Reserve Bank of Australia, are re‑examining their relationships, with the RBA indicating KPMG will not be reappointed for its whistle‑blower service. The probe follows a similar scandal at PwC Australia last year and raises broader questions about audit integrity and corporate governance in the country.