KPMG chairman-elect Michael Ebeid apologizes to Senator Deborah O’Neill

Michael Ebeid, the chairman-elect of KPMG, has issued a formal apology to Australian Labor senator Deborah O’Neill regarding emails he previously sent to discredit her Senate speech. O’Neill's speech had brought whistleblower allegations regarding the firm's misuse of confidential client audit documents to light.

In documents released by O’Neill’s parliamentary committee, Ebeid admitted that his previous claims labeling her statements as "completely false" and describing the firm’s internal processes as "thorough" were incorrect. He characterized his earlier communications as "naive, embarrassing and wrong on every level," acknowledging that the concerns raised by the whistleblower helped uncover serious wrongdoing within the firm.

Ebeid, who is currently acting as chairman while the firm attempts to recover from executive misconduct, is awaiting a formal vote from KPMG partners to officially assume the role, which is expected to conclude this Wednesday.