Australia politics live: Labor makes move to crack down on consultants after latest scandal
The Australian government is proposing stricter regulations for accounting and consulting firms following a major scandal involving KPMG. The move aims to restore public trust by potentially mandating structural separation and stricter ethical obligations for these firms.
Why it matters
This reflects a growing global trend of governments seeking to curb the influence and lack of accountability within large professional services firms.
The federal government has released an options paper to improve the regulation of accounting, auditing and consulting firms in Australia, the latest move in the wake of the KPMG scandal, in which partners leaked client information and mishandled the whistleblower who raised the alarm.
The article presents the government's regulatory response to a documented scandal objectively, citing specific firms and policy goals.
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