Government Eyes Breaking Up Big Accounting Firms | Australia News

The government is seriously considering breaking up the big accounting firms, separating their audit and consulting arms to fix deep-rooted conflicts of interest. After scandals like KPMG’s federal contract ban and EY staff snooping on the Prime Minister’s bank account, Treasury’s new paper outlines bold options — from banning consulting for audit clients to full corporate splits — plus massive fines and limits on firm leadership. Industry has until August 12 to weigh in on this potential industry overhaul. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b82af893e10afb18