The firm is accused of using a legacy client’s private board papers as insider leverage to win lucrative new jobs, destroying the core trust professionals trade on.

The federal government is reviewing $270 million in KPMG contracts and rethinking large partnership governance as the scandal widens to the entire industry.

The bank is weighing whether to terminate its newly awarded $32m audit contract with KPMG, following allegations the firm used leaked data to win the work.

The firm is accused of using a legacy client’s private board papers as insider leverage to win lucrative new jobs, destroying the core trust professionals trade on.