2026-07-01
In response to the recent fallout over KPMG’s multiple scandals which followed the PwC scandal, Labor has released a position paper into the accounting, auditing and consulting firms.
The Greens say we don’t need any more delay, we need action. The government must reform the Big 4 structures, subject these massive partnerships to the same rules of tax, transparency and whistleblowing as other large entities through corporations law, separate the functions of consultancy from audit, and regulate and penalise them properly.
Lines attributable to Greens finance and public service spokesperson Senator Barbara Pocock:
“Labor needs to stop kicking the can down the road.
“Back in 2024, Labor issued a consultation paper and nothing came of it. Submissions were received and nothing came of it. Now we have another paper and the test for Labor is: will it act or will it tinker?
“What we need is action and it's on Labor.
“We know what the solutions are: Labor needs to reform the Big 4 and subject these massive partnerships to the same rules of tax, transparency and whistleblowing as other large entities through corporations law, separate the functions of consultancy from audit and regulate and penalise them properly.
“The time for talk is over, now is the time for action.
“Until Labor acts, the Big 4 consultancy firms will continue to make a mockery of the parliament.
“The Government needs to stop expressing “deep concern” at corrupt practices of the Big 4 while dishing out millions of dollars to them in contracts.
“Labor needs to put an end to the Big 4’s special treatment and regulate them like other Australian businesses.”
MEDIA CONTACT:
Charlotta Lomas - 0466 339 862