Westpac Removes KPMG Auditor Following Internal Scandal
Synopsis
Kim Lawry has stepped aside as Westpac's lead auditor after retiring from KPMG amid the firm's ongoing whistleblower controversy.
Key Highlights
- Westpac has requested that KPMG partner Kim Lawry not work as lead auditor.
- Brendan Twining will assume the role of lead audit partner.
- Lawry has also stepped down from the KPMG board, the firm and the partnership.
Westpac has requested KPMG audit and assurance partner, Kim Lawry to step down as the bank's lead auditor while it gets through its current whistle-blower scandal with KPMG. KPMG lead engagement partner Brendan Twining will take over from Lawry for Westpac’s audit.
Lawry has also stepped down from KPMG, the partnership and board.
Decision Follows Confidential Information Breach
It was found that Lawry, KPMG auditors Paul Rogers and Eileen Hoggett viewed confidential Landless information as it was bidding for a $32 million-a-year contract for Westpac. KPMG warned and imposed a fine on the three auditors for their role in this incident. Lawry met with Westpac executives to announce her retirement from KPMG.
A Westpac spokesperson said that in consultation with KPMG it was appropriate for Lawry to stand aside “to ensure there is no distraction from completing Westpac’s FY26 audit”.
Source: Capital Brief
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