ASIC has launched a formal investigation into KPMG after the firm admitted to mishandling whistleblower claims about improper client document sharing. Two top auditors, Paul Rogers and former COO Eileen Hoggett, are now under formal probe — Hoggett has already stepped down. The scandal triggered resignations from KPMG’s CEO and head of audit, and the firm apologized for falling short of its own standards. Government agencies including the Reserve Bank, ATO, and state governments are reviewing contracts with KPMG, while ASIC holds separate non-audit contracts worth $3 million. Additional inquiries are underway into other KPMG staff, and current/former partners face parliamentary testimony later this month.
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