KPMG’s own clients put it through the ringer at a parliamentary probe on Friday. But let’s not kid ourselves that in a clubby market like Australia, conflicts aren’t everywhere.

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

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.