KPMG's embattled Australia consultancy business is preparing to cut hundreds of jobs and reduce partner pay by as much as a fifth, the Australian Financial Review reported on Tuesday, as it contends with the fallout from an audit leak scandal. KPMG Australia has faced whistleblower allegations that it used confidential client data to win lucrative contracts. There have been a number of high-level departures since the scandal, including the chairman, CEO and audit boss.
KPMG has admitted it has mishandled the whistleblower complaint and has launched a fourth internal investigation after previous ones failed to substantiate any wrongdoing.
