KPMG’s embattled Australian affiliate will look beyond its partnership ranks as it searches for a new chair and a slate of independent board directors, as part of a restructuring bid meant to stabilize the firm and quell an uproar following alleged ethics breaches in its audit practice.
The Big Four affiliate announced this week the leadership overhaul and a plan to probe failures in how the firm responded to whistleblower tips, among other steps detailed in a five-page document.
That “action plan” describes the firm’s response as it grapples with a scandal triggered by a whistleblower who accused top KPMG …