Fri 14 Aug 2026 at 6:39pmFri 14 Aug 2026 at 6:39pm

Thanks a MILLION for joining us

OK that’s a wrap today.

Thank you so much for joining the special business blog today focusing on the senate hearing.

From the team, we hope you have a safe and relaxing weekend.

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Fri 14 Aug 2026 at 6:36pmFri 14 Aug 2026 at 6:36pm

Joint Committee has adjourned

That’s it folks.

The committee stands adjourned.

There’s now A LOT of work to be done by the senators and KPMG representatives who fronted the hearing.

Fri 14 Aug 2026 at 6:34pmFri 14 Aug 2026 at 6:34pm

How much is the whistleblower worth?

“How much is the whistleblower worth?” Senator O’Neill asks former CEO Andrew Yates.

“I’m not going to put a figure on that,” he responds.

Fri 14 Aug 2026 at 6:29pmFri 14 Aug 2026 at 6:29pm

KPMG past and current bosses in front of senators

It’s extraordinary to see current and former KPMG bosses sitting in a line in front of Australian senators, heads bowed, apologising for professionally poor behaviour.

It looks like a group of naughty school children.

Fri 14 Aug 2026 at 6:26pmFri 14 Aug 2026 at 6:26pm

Mr Yates and Mr McClelland working on investigation

General counsel James McClelland’s emotional testimony is being spoken of again.

Senator Scarr wants the KPMG’s former bosses to respond to his testimony.

Mr Yates, we were told earlier, didn’t instruct Mr McClelland to forensically examine emails.

“It was very difficult to understand what we were dealing with,” Mr Yates said.

“If I had my time again,” he said, he would do things differently.

Fri 14 Aug 2026 at 6:16pmFri 14 Aug 2026 at 6:16pm

Hearing moves into overtime

This Joint Committee was scheduled to wrap now (6:15pm AEST) but it’s moved into overtime.

There’s been a huge amount to get through.

Fri 14 Aug 2026 at 6:11pmFri 14 Aug 2026 at 6:11pm

All together now

Senator O’Neill has just asked past and present KPMG bosses to join together in the room.

Fri 14 Aug 2026 at 6:10pmFri 14 Aug 2026 at 6:10pm

Ms Mortell in the dark

KPMG deputy chair Ms Carmel Mortell has just revealed she was not aware of the whistleblower scandal until April 2025.

Fri 14 Aug 2026 at 6:05pmFri 14 Aug 2026 at 6:05pm

Full disclosure needed from KPMG

KPMG has just agreed to hand over relevant documents to Lendlease, Macquarie and other firms connected with this scandal.

Senators want more “transparency” from KPMG to force cultural change.

This is a significant step in the process of KPMG being held accountable amid this saga.

Fri 14 Aug 2026 at 5:59pmFri 14 Aug 2026 at 5:59pm

The ‘irony’ of an auditor being improper: senator says

“There is not one part of me that is going to defend any of that conduct,” CEO John Sams says.

KPMG is relied upon to examine the books and management of some of Australia’s biggest companies with integrity and credibility.

Fri 14 Aug 2026 at 5:55pmFri 14 Aug 2026 at 5:55pm

KPMG failed the whistleblower

“Clearly we have absolutely failed the whistleblower in this case,” CEO Sams tells senators.

This goes to the heart of this hearing.

KPMG needs a culture, the senators insist, that encourages employees who believe wrongdoing is being done to come forward.

Fri 14 Aug 2026 at 5:52pmFri 14 Aug 2026 at 5:52pm

Allens services under question

Sharma asks Ebeid: Would you use Allens again for this type of investigation?

But Senator Sharma interrupted himself with another question.

Fri 14 Aug 2026 at 5:47pmFri 14 Aug 2026 at 5:47pm

Whistleblower on their own legally

New chair Ebeid tells senators he knew ASIC’s guidelines said KPMG should not provide the whistleblower legal advice and that the whistleblower needed to seek their own legal counsel.

Fri 14 Aug 2026 at 5:41pmFri 14 Aug 2026 at 5:41pm

By how much should a KPMG partner be sanctioned?

CEO John Sams insists harsher penalties are being handed out.

He has been asked who was fined what by Senator Scarr.

Sams replies by saying he’ll take that on notice because he does not want to make a mistake in the detail.

Fri 14 Aug 2026 at 5:36pmFri 14 Aug 2026 at 5:36pm

Staff ‘shocked and appalled’

John Sams tells senators staff have been “shocked and appalled” by what’s taking place at KPMG.

Fri 14 Aug 2026 at 5:34pmFri 14 Aug 2026 at 5:34pm

How are staff being supported?

KPMG CEO John Sams tells senators that he’s going around the country and answering his staff’s questions in an open environment.

He says he still sees “pride” in the organisation.

“Forums” are providing “feedback”.

Face-to-face meetings are also providing Mr Sams with “challenging” feedback.

Fri 14 Aug 2026 at 5:30pmFri 14 Aug 2026 at 5:30pm

Phone user asked to leave

Senators have just asked a person towards the back of the room to leave the hearing after their phone kept ringing.

Fri 14 Aug 2026 at 5:29pmFri 14 Aug 2026 at 5:29pm

CEO backs independent chair

KPMG CEO John Sams just publicly supported Michael Ebeid and says he’s “grateful” for his presence.

Fri 14 Aug 2026 at 5:25pmFri 14 Aug 2026 at 5:25pm

Million-dollar salary

In case you missed it, Michael Ebeid revealed earlier he will be paid a base annual salary of $1 million as independent chair.