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Latest News in Financial Services AU
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August 14, 2026
KPMG Australia CEO John Sams told a parliamentary committee on Friday that the firm had "absolutely failed" a whistleblower who had raised concerns about the firm misusing confidential client information to win more audit work, as the committee's chair questioned the firm's partnership structure.
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August 14, 2026
Liberal Senator Dave Sharma has used parliamentary privilege to accuse Diversa Trustees of "astonishing arrogance" for awarding large management bonuses while members invested $300 million into the collapsed First Guardian, and calling for swift regulatory action.
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August 14, 2026
Allens and Ashurst Perkins Coie defended their legal advice and whistleblower investigations for KPMG Australia, despite senators at a parliamentary inquiry on Friday describing Ashurst's reports as "unsatisfactory" and Allens' work as "very poor."
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August 14, 2026
The Federal Court of Australia has admitted to underpaying almost 250 of its casual employees due to a "payroll configuration issue," requiring about $77,000 in remediation payments.
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August 14, 2026
KPMG Australia said that it supports licensing audit firms but warned against banning auditing firms from offering non-auditing services or forcing them to impose operational or structural separation between those offerings, in its response to an inquiry driven in part by its own handling of whistleblower allegations.
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