KPMG is facing an existential crisis, says former corruption commissioner | The Business | ABC NEWS

A parliamentary hearing into the KPMG scandal has been given a rare glimpse into the operation of corporate investigations. It heard that the consultancy firm was able to shield itself when it engaged outside counsel to conduct internal investigations by simply limiting the scope of their inquiry. Anthony Whealy KC for the Centre from Public Integrity was once Assistant Commissioner to the NSW Corruption Commission. He has described some of the revelations as 'disgusting behaviour' from a commercial and ethical point of view. He says he's 'disturbed' by the fact that all the government has done so far is to announce an independent review of KPMG's culture. "We don't know who's going to do the review, but we do know that KPMG has been suspended from applying for new work until September. That is a slap on the wrist and nothing more, because they already hold contracts worth millions of dollars of government work," he says. #ABCBusiness Subscribe: http://ab.co/1svxLVE Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia