{"id":916511,"date":"2026-10-05T02:58:31","date_gmt":"2026-10-05T02:58:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/916511\/"},"modified":"2026-10-05T02:58:31","modified_gmt":"2026-10-05T02:58:31","slug":"kpmg-australia-mulls-seeking-100-million-in-loans-from-global-firm","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/916511\/","title":{"rendered":"KPMG Australia mulls seeking $100 million in loans from global firm"},"content":{"rendered":"

\"Nick<\/p>\n

October 5, 2026 \u2014 9:06am<\/p>\n

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The Australian arm of embattled consultancy KPMG is considering seeking up to $100 million in loans from the global wing of the firm as it battles with the fallout from a whistleblower scandal that has cost it several marquee clients.<\/p>\n

An anonymous KPMG whistleblower warned the firm of a raft of serious allegations in 2024, including that senior partners had misused confidential information to win work, but his claims were dismissed until Senator Deborah O\u2019Neill went public with the allegations in March.<\/p>\n

\"KPMGKPMG Australia chief executive John Sams has also presided over major job cuts.Alex Ellinghausen<\/p>\n

On Monday, The Australian Financial Review reported that KPMG Australia chief executive John Sams was in the process of asking KPMG\u2019s global network of firms to loan his division up to $100 million, and agree to waive its fee to use the KPMG name and resources, which is worth about the same amount.<\/p>\n

KPMG is structured as a network of quasi-independent consultancies that operate in different territories under the ultimate supervision of the global head office.<\/p>\n

Related Article\"KPMG<\/a><\/p>\n

\u201cKPMG Australia continues to work collaboratively with KPMG International to assess financial projections,\u201d a KPMG spokesman said. \u201cKPMG International will consider any funding request in accordance with its governance arrangements.\u201d<\/p>\n

No formal request has yet been made by KPMG Australia.<\/p>\n

The firm has lost major clients here with contracts worth tens of millions annually including Macquarie<\/a> and ANZ<\/a>, though some of those deals were yet to start or will take years to terminate.<\/p>\n

Sams, who was appointed to lead the firm in July<\/a>, has already presided over major job cuts<\/a>.<\/p>\n

The loan, as reported by the Financial Review, would help KPMG keep clients and retain partner pay at a higher level. There is no suggestion KPMG Australia is in any solvency risk.<\/p>\n

More to come.<\/p>\n

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning<\/a>.<\/p>\n

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\"NickNick Bonyhady<\/a> is the business editor of The Sydney Morning Herald and The Age. He is a former deputy federal editor, technology editor and industrial relations reporter.Connect via X<\/a> or email<\/a>.From our partners<\/p>\n","protected":false},"excerpt":{"rendered":"October 5, 2026 \u2014 9:06am Save You have reached your maximum number of saved items. Remove items from…\n","protected":false},"author":2,"featured_media":916512,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":["post-916511","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/916511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=916511"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/916511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/916512"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=916511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=916511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=916511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}