The latest KPMG scandals show the Big 4 consultancy firms are making a mockery of the parliament, yet again.<\/p>\n\n\n\n
Following multiple scandals, KPMG\u2019s CEO has resigned and the COO has stepped down but the rot won\u2019t go away.<\/p>\n\n\n\n
KPMG has reluctantly admitted to a string of allegations, including misusing confidential client information to get more audit work, auditors using AI to cheat on internal exams, breaching audit independence, and \u201cfalling short\u201d on the whistleblower\u2019s concerns raised. <\/p>\n\n\n\n
Despite these revelations, however, the Government continues to employ KPMG\u2019s services.The Department of Finance, alone, currently holds eight consultancy contracts worth $27 million with KPMG.<\/p>\n\n\n\n
The Greens say the Government needs to stop feigning outrage and expressing \u201cdeep concern\u201d at corrupt practices of the Big 4 while dishing out millions of dollars to them in contracts. Labor needs to put an end to their special treatment and regulate them like other Australians businesses.<\/p>\n\n\n\n
Greens Senator Barbara Pocock, spokesperson for finance and public sector:<\/strong><\/p>\n\n\n\n \u201cAustralia\u2019s Big 4 consulting firms are marauding pirates making a mockery of the parliament. They play by their own rules and get away with it, again and again. <\/p>\n\n\n\n \u201cAfter years of multiple internal inquiries and subsequent cover-ups, KPMG\u2019s recent misdemeanours are being dragged into public view, thanks to a courageous whistleblower.<\/p>\n\n\n\n \u201cEven while the PwC scandal was unfolding, KPMG who were engaged in their own corrupt behaviours and cover-ups, failed to notify the parliament despite giving evidence to multiple parliamentary inquiries. Such dishonesty beggars belief. <\/p>\n\n\n\n \u201cHow many scandals does it take for this government to take action? <\/p>\n\n\n\n \u201cThe Big 4 have lost their social licence. Australians have had enough of the repeated scandals. It\u2019s time for the Big 4 to be regulated under Australia\u2019s corporate regulatory regime.<\/p>\n\n\n\n \u201cIt\u2019s time to rip the bandaid off. It\u2019s time the government made these opaque, largely unregulated mega-partnerships accountable under the same corporate law, regulatory, whistleblower and tax regime as other large businesses in Australia. <\/p>\n\n\n\n \u201cMeanwhile, the big consulting firms are donating hundreds of thousands to politicians<\/a>. How does this pass any conflict of interest test? <\/p>\n\n\n\n \u201cLabor needs to put an end to the Big 4 donations to political parties and governments with whom they hold multi-million dollar contracts. <\/p>\n\n\n\n \u201cIt is time to end the special treatment and poor regulation of the Big 4 which has allowed them to get away with corruption and remain at the profitable trough of government consulting.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The latest KPMG scandals show the Big 4 consultancy firms are making a mockery of the parliament, yet again. Following multiple scandals, KPMG\u2019s CEO has resigned and the COO has stepped down but the rot won\u2019t go away. KPMG has reluctantly admitted to a string of allegations, including misusing confidential client information to get more … Continue reading “Big 4 are making a mockery”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-39299","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=39299"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39299\/revisions"}],"predecessor-version":[{"id":39300,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39299\/revisions\/39300"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=39299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=39299"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=39299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}