Exclusive: Firm’s denial comes after weeks of intense criticism, including accusations that it misled parliament
KPMG Australia has denied making an ‘incredible failure’ in its advice to a government department that later awarded a $423m contract for security work on Manus Island.KPMG Australia has denied making an ‘incredible failure’ in its advice to a government department that later awarded a $423m contract for security work on Manus Island.
“An EY audit shows that KPMG investigated the wrong Paladin entity,” O’Neill told officials from Chartered Accountants Australia and New Zealand, an oversight body. “I’m watching jaws proverbially hit the floor as you hear me tell you this, because that is an incredible failure.” “The financial strength assessment report obtained by the department is not relevant to the financial strength of its contracted service provider – Paladin Holdings,” the EY audit said. “The department noted that Paladin Holdings did not have financial statements.”When asked for a response to senator O’Neill’s criticism, a KPMG spokesperson said: “We did not conduct the assessment on the wrong entity.
However, the EY audit also found “there was no specific records of the department assessing and agreeing to this conflict declaration”. The report also criticised the veracity of KPMG Australia’s report to government, which warned Paladin Solutions was a “moderate/high risk”.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Revlon’s new ColourStay Limitless Matte Liquid Lipsticks have incredible 24 hour staying power7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Incredible drone footage shows three sharks off South Australia's coastThe footage was taken at Pennington Bay, on the south side of Kangaroo Island by resident Grant Coutts, with the help of a drone.
Read more »
Taylor Swift's Father's Act of Kindness at Melbourne ConcertFans at Taylor Swift’s Friday night concert at Melbourne’s MCG have reported an incredible act of kindness by the singer’s father. On 3AW presenter Jacqui Felgate’s Facebook page, an unknown mother of a Taylor Swift fan said she experienced an incredible moment as fans awaited the star’s arrival on stage.
Read more »
‘Has no issues with Melbourne’: Dees reject ‘scapegoat’ claim after drug trafficking twistAFL: Demons star midfielder Clayton Oliver has returned to playing as he featured in a preseason clash against the Richmond Tigers.
Read more »
Victorian bushfires claim 44 properties as official count risesAs much as half of one town in the Grampians has been burnt to the ground, including the only school.
Read more »
Australian swimming legend James Magnussen’s stunning doping claim for right price7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »