KPMG Australia chairman Sheppard and partners resign over Lendlease claims
Big changes at KPMG Australia: Chairman Martin Sheppard and audit partners Paul Rogers and Eileen Hoggett have stepped down after a whistleblower claimed the firm used confidential Lendlease documents to win contracts.
Interim CEO Stan Stavros admitted the company did not live up to its standards, marking the fourth internal investigation into these issues.
Regulator probes KPMG partners amid reforms
The regulator is now investigating two of the resigned audit partners, and KPMG is rolling out reforms like bringing in an independent chair and outside board members to rebuild trust.
The firm also faced criticism for treating the whistleblower's concerns as just a "workplace issue" instead of a serious ethical problem.
Sheppard revealed employees had improperly shared Optus data during another contract bid, adding more pressure for change.