New chair Michael Ebeid’s day one disaster has infuriated partners and exposed deep fractures, yet KPMG’s hunt for a new CEO leaves him temporarily safe.

The firm is considering cutting partners’ pay packets for the 2026 financial year by as much as 20 per cent as the audit leaks scandal eats into its bottom line.

Staff at KPMG’s headquarters were in lockdown over a threat from a fellow employee as the firm attempts to rebuild its leadership following the whistleblower scandal.