KPMG Australia considers job cuts amid audit leaks scandal – report

KPMG Australia is assessing measures that could pb to respective 100 redundancies and a simplification successful spouse wage of up to 20% arsenic it responds to the fiscal interaction of the audit leaks scandal.

According to an Australian Financial ‌Review report, the occupation reductions are expected to beryllium dispersed crossed the 'Big Four' company.

The last fig of impacted roles has not been confirmed, but interior expectations bespeak astatine slightest respective 100 positions. Two sources told the AFR that the full could scope oregon transcend 1,000.

KPMG says connected its website that it employs astir 10,000 radical successful Australia, including much than 600 partners.

The study follows KPMG's public-sector limb agreeing not to bid for caller Commonwealth and New South Wales nationalist assemblage enactment until the extremity of September. The institution is besides reported to beryllium experiencing softer request from private-sector clients.

KPMG Australia is facing allegations that it utilized confidential lawsuit information to triumph contracts. Several elder leaders person departed since the contented emerged, including the chair, CEO and audit head.

More recently, KPMG Australia appointed Michael Ebeid arsenic its archetypal autarkic seat arsenic portion of governance changes aimed astatine rebuilding trust.

The AFR reported that immoderate announcement connected occupation cuts is improbable earlier the institution appoints a imperishable CEO.

Potential candidates for the relation named successful the study see caput of taxation and ineligible Ben Travers and caput of mid-market and backstage businesses Naomi Mitchell. Chief fiscal serviceman John Sams is besides cited arsenic a starring contender.

Sams told partners past period that wage for the 2026–27 fiscal twelvemonth (FY26–27) could autumn by arsenic overmuch arsenic 13%. The AFR study besides said that immoderate partners had been told broader concern wage for FY26 could beryllium reduced by 20%.

The incoming CEO is expected to look earlier the parliamentary committee examining the audit leaks scandal. A further proceeding is scheduled for 14 August.

"KPMG Australia considers occupation cuts amid audit leaks ungraded – report" was primitively created and published by International Accounting Bulletin, a GlobalData owned brand.