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AAP
AAP
Politics
Jacob Shteyman and Tess Ikonomou

Number's up for crisis-hit accounting firms in shake-up

Daniel Mulino Anthony Albanese Dan Himbrechts EY KPMG
KPMG is mired in scandal after allegations its auditors misused confidential client information. (Susie Dodds/AAP PHOTOS)

Big accounting firms could be forced to divest their auditing functions as they face their biggest shake-up in years following a string of governance scandals.

The federal government released an options paper on Wednesday proposing a number of radical changes to the sector, toughening regulatory oversight of the partnerships.

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