The Australian head of a top-tier consultancy firm at the centre of data mishandling allegations by a whistleblower has fallen on his sword, forcing the firm to apologise to clients including the federal government.
KPMG, one of the Big Four accounting firms, made the shock announcement on Friday as it was targeted by a federal parliamentary joint committee grilling the corporate regulator.
Australian Securities and Investments Commission officials ended up confirming in real time the regulator had been investigating since April after being pressed by committee chair and Labor senator Deborah O'Neill.
As that happened, KPMG revealed its Australian head Andrew Yates had resigned along with audit head Julian McPherson.
Mr Yates took the fall over the treatment of a whistleblower, after an internal investigation into their allegations was found to have fallen short of the firm's expectations.
