KPMG Australia penalizes 7 for sharing confidential client documents
Business
KPMG Australia just hit seven employees with penalties, including fines up to A$180,000, after they were caught sharing confidential client documents.
The fallout was serious: top bosses including the CEO, head of audit, and chairman stepped down.
The incident has grabbed attention from both the government and major clients.
ASIC probes Lendlease board papers
Three senior partners misused sensitive board papers from real estate giant Lendlease, and now Australia's corporate regulator, the Australian Securities and Investments Commission, is digging deeper.
Two partners were named publicly and have since left, while another remains unnamed.
Some penalized staff retired before facing consequences.
KPMG called the behavior "unacceptable."