If the past few weeks of news have taught the Australian public anything, it is that there is something seriously wrong with modern professional services firms. Two of Australia’s most trusted firms, PwC and KPMG, have been revealed as profit-making enterprises first and professional institutions second. It would be naive to assume these incentives are unique to the two firms, though.The latest scandal engulfing KPMG, PwC’s arch-rival, proves that lessons have not been learnt. We’ve been granted a rare look into the inner workings of KPMG’s Australian business model, and little of it is good.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
KPMG scandal shows profit, not professionalism, rules the big four
Hiding behind the legal opacity of private partnerships while preaching good governance to clients is a hypocrisy regulators should no longer ignore.
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