ASIC launches formal probe into KPMG Australia partners

ASIC Chair Sarah Court confirmed that compulsory notices have been issued to the firm, noting that the scope of the investigation remains fluid as new information surfaces. The probe currently centers on three registered auditors, including Paul Rogers and Eileen Hoggett. Both were identified by Senator Deborah O'Neill as the lead partners on the Lendlease account, where board papers were allegedly exploited to influence audit bids for Westpac and Dexus.

KPMG previously cleared itself of wrongdoing during an internal review, but the firm has since appointed law firm Allens to conduct an external inquiry. While Hoggett has vacated her role as chief operating officer, she maintains her position as an audit partner. Beyond the audit scandal, the Reserve Bank of Australia has moved to distance itself from the firm. Governor Michele Bullock confirmed that the central bank intends to retender contracts, including a whistleblower service managed by KPMG, citing a loss of confidence in the partnership.