KPMG Australia has told the American regulator that its ability to tender for government work in Australia is constrained until at least the end of the month.
KPMG Australia has told its American regulator that its ability to tender for government work in Australia is constrained until at least the end of the month.
The Big Four firm is obliged to file updates with the Public Company Accounting Oversight Board in the United States, where major investigations or inquiries are conducted into the firm’s conduct, if it audits companies registered to trade equity in the US.
KPMG Australia had notified the US regulator in July that it was being reviewed by the Department of Finance for ethical soundness following the auditing and ethical scandal involving the sharing of confidential audit client information with audit tender pursuit teams.