KPMG clients, executives face will face a parliamentary inquiry from 8.15am; witnesses include Macquarie chair Glenn Stevens and KPMG’s new CEO John Sams. Follow updates here.

If Allens and Ashurst end up going down with the consulting firm’s ship, they will have only themselves to blame.

The former RBA governor and Macquarie chairman has been called before a parliamentary committee over a massive KPMG contract win.