MEDIA STATEMENT

Chartered Accountants Australia and New Zealand (CA ANZ) confirms completion of the first CEO-directed targeted Quality Practice Reviews of major Australian firms.

The review, directed by CEO Ainslie van Onselen in June 2026, examined KPMG Australia’s systems and processes for handling confidential audit client information and promoting ethical culture.

“The profession’s standards are fundamental to trust. When serious questions arise it is important that we use the powers available to us to examine the systems and controls that support those standards,” Ms van Onselen said.

The Quality Practice Review involved a detailed examination of documentation, meetings with senior leaders and key process owners, walkthroughs of relevant systems, controls and processes, and consideration of how those arrangements operated in practice.

“KPMG has taken the step to publish the review report in full, including CA ANZ’s suggestions focused on further strengthening governance and processes. I acknowledge the willingness and transparency KPMG has demonstrated in engaging with the review.”

The targeted reviews form part of broader work by CA ANZ to strengthen trust, accountability and audit quality across the profession.

In August, CA ANZ put forward a five-point reform plan to the Australian Government calling for targeted and proportionate firm-level regulatory oversight. This included powers for ASIC, an enforceable governance code for large audit firms, and reformed whistleblower protection laws.

“Maintaining public trust requires action from all parts of the system. Professional bodies have a vital role in setting expectations, upholding ethical and professional standards and promoting the values that underpin trust, but that needs to be backed by strong, targeted regulation where it matters most,” Ms van Onselen said.

“That is why we are using our own powers through these targeted reviews, while also advocating for reforms that strengthen firm-level accountability, governance and whistleblower protections.”

“The work does not stop with these reviews. Once the program is complete, CA ANZ will continue to consider how the profession can continue to strengthen ethical leadership, governance and accountability.”