Australian Securities and Investments Commission (ASIC) Increased Scrutiny on Auditors in Australia Including Complaints on Big 4 Audit Firms (KPMG, PwC, Deloitte & EY) and Sent Regulatory Obligations Notice to 3,000 Auditors in Australia
22nd July 2026 | Hong Kong
Australian Securities and Investments Commission (ASIC) is increasing scrutiny on auditors in Australia including complaints on big 4 audit firms (KPMG, PwC, Deloitte & EY) and have sent regulatory obligations notice to around 3,000 auditors in Australia. In 2026 July – KPMG Australia Client Data Leak Scandal – KPMG was reported to be planning 1,000 jobs cut, and to decrease KPMG Partners total pay by up to 20%. In 2026 July, KPMG Australia appointed Australia public service broadcast company SBS Australia ex-CEO Michael Ebeid as KPMG Australia first Independent Chairman. In 2026 June, KPMG Australia Chairman Martin Sheppard & 2 Senior Partners (Paul Rogers & Eileen Hoggett) resigned, with KPMG Australia announcing leadership changes, governance overhaul & action plan to address integrity issues & strengthen accountability. In 2026 June, 1) KPMG whistleblower was pressured to resign from KPMG, 2) Whistleblower computer was secretly searched for possible leak of KPMG confidential information, 3) Australia real estate company Lendlease ($1.4 billion marker value) to change auditor from KPMG for breach of trust, 4) KPMG Global COO & next new CEO Gary Wingrove & Head of Audit Julian McPherson issued apologies, 5) ex-KPMG Australia CEO Andrew Yates $700,000 (AUD 1 million) bonus withheld. In 2026 June, KPMG global leaders were reported to have refused to investigate Australia whistleblower claims (Reported by Financial Times). The Reserve Bank of Australia (RBA) will likely not reappoint KPMG to operate whistleblower hotline. In 2026 June, Eileen Hoggett stepped down as KPMG Australia Chief Operating Officer (COO) but will remain as Audit Partner. In 2026 May, KPMG Australia CEO Andrew Yates & Head of Audit Julian McPherson resigned in data leak scandal after complaints of sharing confidential client data to win contracts by a whistleblower. KPMG clients data misused involved Lendlease, Telstra & Optus. KPMG Australia largest clients include ANZ, Westpac & Macquarie. Australian Securities and Investments Commission (ASIC) started preliminary investigation. Stan Stavros was appointed as interim KPMG Australia CEO. In 2025 October, Big 4 audit firm Deloitte provided a partial refund of the $291,000 (AUD 440,000) payment for a report to Australia Government, for using Generative AI (Artificial Intelligence) and resulting in errors. In 2025 September – PwC Australia Government Tax Leak Scandal – PwC Australia ex-CEO Tom Seymour was issued with a 4-year ban as a tax agent by the Australia Tax Practitioners Board (TPB) for failure to act with integrity & manage conflicts of interest. In 2023 May, PwC Australia CEO Tom Seymour resigned for involvement in Australia government tax policy information leak. Ex-PwC advisor Peter-John Collins, who was de-registered in 2022 as tax practitioner by Australia Tax Practitioners Board, had shared confidential tax information with PwC partners. PwC advised governments on creating tax laws & implement tax policies, and at the same time creating new tax arrangements for clients to reduce or avoid tax. KPMG (29/5/26): “KPMG Australia confirms its treatment of a whistleblower and investigation into their allegations fell short of the firm’s expectations, those of the whistleblower and the broader community. The initial internal investigation, that did not substantiate the allegations raised by the whistleblower, was in hindsight not conducted with the necessary rigour required. Understandably this prompted further communications and allegations from the whistleblower, resulting in the appointment of an external legal firm, to review the internal investigation. The external legal review supported the internal investigation. This outcome further escalated the whistleblower’s concerns with the process. The whistleblower again raised the matter with certain independent members of the KPMG Australia Board and others. At this point, a Board Sub-Committee (led by the Deputy Chair and including three independent directors), appointed Allens to conduct a further external legal investigation, which remains ongoing. Now, with new evidence and an expanded scope, Allens are continuing to challenge the conclusions reached in prior investigations.” See below for more info:
“ Australian Securities and Investments Commission (ASIC) Increased Scrutiny onAuditors in Australia Including Complaints on Big 4 Audit Firms (KPMG, PwC, Deloitte & EY) and Sent Regulatory Obligations Notice to 3,000 Auditors in Australia “
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Australian Securities and Investments Commission (ASIC) Increased Scrutiny on Auditors in Australia Including Complaints on Big 4 Audit Firms (KPMG, PwC, Deloitte & EY) and Sent Regulatory Obligations Notice to 3,000 Auditors in Australia
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