Market Chatter: Lendlease Group Asks KPMG to Remove ASIC Probe-Associated Staff From Its Accounts, The Australian Reports

MT Newswires Live06-05

Lendlease Group (ASX:LLC) asked KPMG to remove all staff who are the subject of the Australian Securities & Investments Commission's probe arising from the accounting firm's audit scandal from its accounts, according to a Friday report by The Australian.

Lendlease sought a guarantee from the auditing firm "that no employees currently on our audit have been, or are, the subject of any investigations," the report said, citing a company spokeswoman.

In March, Australian Senator Deborah O'Neill revealed a whistleblower's allegations of misconduct at KPMG, including confidential papers from Lendlease that were allegedly used to support bids for major audit tenders for Westpac and Dexus, according to a Reuters report.

Lendlease did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment