KPMG to cut almost 400 jobs from Australian arm as it loses contracts after audit leaks scandal
KPMG Australia is cutting nearly 400 jobs and restructuring its operations following a major audit leaks scandal. The firm has struggled to retain government contracts after allegations of data misuse and whistleblower mishandling.
Why it matters
The scandal reflects broader issues regarding ethics and conflicts of interest within the 'Big Four' accounting firms and their relationship with government entities.
KPMG Australia has slashed jobs as the fallout of a major audit scandal continues. ( ABC News: John Gunn )
Accounting firm KPMG is cutting hundreds of jobs after revenue fell as a result of a recent audit inquiry.
5% - The percentage of the KPMG workforce to be cut .
Link copied Share Share article Accounting firm KPMG says it will cut 27 partners and about 360 staff from its local arm, and revamp its structure as it grapples with lower revenue from lost contracts following the audit leaks scandal.
The firm's revenue fell from $2.28 billion the previous year, to $2.26 billion in the 2026 financial year, and KPMG Australia chief executive John Sams expected more revenue falls.
KPMG has been unable to retain most of its ongoing government contracts after allegations KPMG audit partners misused client data and then mishandled a whistleblower's complaint about it.
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