Key facts
- KPMG Australia imposed penalties of up to A$180,000 on seven staff members.
- The sanctions are a result of an internal probe confirming misuse of confidential client information.
- Consequences for staff range from warnings and career restrictions to financial penalties.
- Three senior audit partners were previously fined for misusing confidential board papers from Lendlease.
- Australia's corporate regulator, ASIC, is investigating three partners involved in the scandal.
KPMG Australia has imposed financial penalties of up to A$180,000 ($125,838) on a group of seven staff members following an internal investigation into an audit leak scandal. The firm confirmed the "unacceptable" misuse of confidential client information, with consequences ranging from warnings and restricted career progression to financial penalties.
The sanctions are the latest fallout from a scandal that has led to the resignations of the firm's CEO, audit boss, and chairman. Three senior audit partners had already been fined for misusing confidential board papers from real estate company Lendlease. A KPMG spokesperson stated that internal documents containing client information were "inappropriately shared" within the firm, which is inconsistent with their values and obligations to protect client information.
The Australian Securities and Investments Commission (ASIC) is also investigating three partners for their role in the scandal. Two of these partners, who have left the firm, were among those previously fined for misusing Lendlease board papers. ASIC has not disclosed the identity of the third partner.