MEDIA RELEASE (AU)

Canberra, 19 June 2026.

Chartered Accountants Australia and New Zealand (CA ANZ) was pleased to appear before the Parliamentary Joint Committee on Corporations and Financial Services as part of its inquiry into ethics and professional accountability at KPMG.

As stated to the Committee, CA ANZ is deeply concerned and frustrated by the allegations before this Committee. They strike at the heart of trust in audit and must be scrutinised by every responsible regulator government and private. CA ANZ’s Professional Conduct Committee is actively investigating.

The APES110 Code of Ethics for Professional Accountants (including Independence Standards) is unambiguous: members must “respect the right of current, past or prospective clients and employers to have all information kept secure, private and confidential.”

As CA ANZ CEO Ainslie van Onselen noted during the hearing: “The principle is basic: if you have access to something you are not meant to, you must disclose it immediately. You do not use it to your advantage.”

CA ANZ will use every tool at our disposal to hold members accountable. But the regulatory framework around audit must keep pace. CA ANZ is doing its part; the rest of the system must do the same.

Interactions with alleged Whistleblowers

As confirmed with the Committee, in December 2025 CA ANZ received an anonymous email raising concerns about academic integrity breaches by KPMG personnel. Other than the reference to academic integrity issues already under investigation, the email did not include details of the allegations regarding the handling of confidential client information that became public on 24 March 2026. CA ANZ encouraged the sender to provide further information if they were legally able to do so.

This was an important issue facing the Committee today: whether the anonymous email CA ANZ received in December 2025 had any connection to the allegations of confidential client information misuse that were raised in Parliament three months later, on 24 March. CA ANZ was clear that it did not. The December email did not contain, foreshadow or otherwise relate to those allegations.

CA ANZ and Whistleblower Protections

Consistent with whistleblower protections under the Corporations Act, CA ANZ has not disclosed the contents of that email. That’s because current legislation sets a high legal threshold for sharing identities and protected disclosures, and we are required to respect those statutory provisions which are designed to keep whistleblowers safe.

Under the Corporations Act, CA ANZ is not authorised to receive protected whistleblower disclosures about other organisations. No outside company or regulator has given CA ANZ authority to receive disclosures on their behalf that would qualify for legal protection under that Act.

CA ANZ reiterates calls for stronger regulation

CA ANZ used the hearing as an opportunity to reiterate the boundaries of its role.  As a private membership body, CA ANZ's disciplinary processes operate under its own By-Laws.

CA ANZ again called on the government to strengthen the regulatory framework around audit, telling the Committee that CA ANZ cannot act on this matter alone. ASIC's jurisdiction to regulate audit firms needs clarity and adequate resourcing. PCAOB-style regulation, with firm inspections and fines in the millions, requires a regulator with the power and funding to match.

CA ANZ raised the need for whistleblower reforms with the Committee in October 2023 and in our Going Further roadmap, which called for the Corporations Act to be amended to make partnerships regulated entities so any employee of a firm can safely speak up.

We also called for amendments to give junior auditors more support if they receive a protected disclosure about an audit client. CA ANZ has publicly supported the Committee's own recommendations 36 and 37 (from its 2024 report), which have not yet been implemented. CA ANZ welcomes the Assistant Treasurer's announced review of whistleblower protections and will contribute to it constructively.

Action underway by CA ANZ

CA ANZ's independent Professional Conduct Committee is currently progressing 12 active investigations in relation to the allegations aired on 24 March, including three arising from self-disclosures, in addition to existing academic integrity investigations.

Ms van Onselen has directed targeted Quality Practice Reviews of KPMG Australia and other major firms, examining how they handle confidential information and promote ethical culture. All KPMG partners have been selected for ethics CPD compliance monitoring.

In October 2023, CA ANZ members unanimously approved significant reforms following the Professional Conduct Framework Review, with the changes coming into effect from 25 January 2024. These reforms strengthened the PCC’s investigative powers, streamlined and accelerated disciplinary processes, and enhanced transparency and governance arrangements — delivering a more robust and effective conduct framework to support timely and accountable outcomes.

CA ANZ will use every tool at its disposal to hold members accountable. But the regulatory framework around audit must keep pace. CA ANZ is doing its part; the rest of the system must do the same.

We look forward to ongoing discussions on these important matters.

Editor’s note: Those who attended the hearing on 19 June included: CA ANZ CEO Ainslie van Onselen, CA ANZ Board Chair Sarah Petersen FCA, CA ANZ Group Executive General Counsel Vanessa Chapman, and CA ANZ Disciplinary Tribunal Chair Grace Kelly.