KPMG Australia
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Search complete. 5 mentions across 5 episodes found for "KPMG Australia".
Oct 14, 2026
Ellen HuntHOST
We have sophisticated policies that we train on annually over and over again, [chuckles] right? But when these functions collide with commercial pressure, revenue can still win.
Ellen HuntHOST
And so when we think about this, and you've given us a number of examples, Enron, Arthur Andersen, McKinsey, Purdue Pharma, and the case du jour, PwC and KPMG Australia, the warning signs were there.
Ellen HuntHOST
The risks were identified, but the commercial power still prevailed.
Ellen HuntHOST
So tell me, in your experience, how common do you think this is where it's truly a power play and the money talks?
Leon GettlerHOST
And the inquiry is calling Google, Anthropic, OpenAI, and Microsoft to a hearing on Tuesday, where OpenAI will be asked about a June incident in which its AI accidentally got into non-public data held by Medicare and four other agencies.
Leon GettlerHOST
And speaking of organisations under pressure, KPMG Australia is asking its global network for help.
Leon GettlerHOST
It wants up to $100 million in emergency loans, plus a waiver of its annual brand fee, which is worth more than $100 million.
Leon GettlerHOST
CEO John Sams is pitching this as a way to fund client pursuit, keep top talent and protect partner payouts.
Michael ThompsonHOST
We've talked a lot about this lately, Sean.
Michael ThompsonHOST
Chief Executive John Sams is also seeking a waiver of either some or all of the more than $100 million annual fee that KPMG Australia pays to the international network.
Sean AylmerHOST
The accounting firm has lost major clients following allegations that audit partners misused confidential client information and conflicted relationships to win work, according to a report in the Fin Review.
Sean AylmerHOST
ANZ last week became the latest client to move on, putting its $24 million a year audit contract to tender without allowing KPMG to participate.
speaker_2NARRATOR
AWS chief Matt Garman defended the construction as akin to building the interstate highway system, warning moratoriums would hand the US a losing ticket in the global AI race.
speaker_3NARRATOR
KPMG Australia seeks $100 million emergency loans due to audit scandal.
speaker_3NARRATOR
The accounting firm is asking its global network for up to $100 million in repayable loans and a waiver of its $100 million-plus annual brand fee, as a scandal over the misuse of confidential client data drives away major clients.
speaker_3NARRATOR
ANZ became the latest to walk on Friday, ending a 57-year audit contract following Lendlease, IAG and Macquarie.
Frankie HoCORRESPONDENT
ANZ says the arrangement, which began in 1969, has lasted too long and it will seek a replacement.
Frankie HoCORRESPONDENT
The decision adds to pressure on KPMG Australia, which faces allegations of misusing confidential client information to win business.
Frankie HoCORRESPONDENT
Macquarie, Landlease and Insurance Australia Group have already dropped KPMG as their auditors.
Frankie HoCORRESPONDENT
ANZ expects to select a new auditor by April next year.