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Market Chatter: Lendlease CEO Says KPMG Refused to Furnish Details on Probe Into Audit Breach

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Lendlease Group (ASX:LLC) CEO Tony Lombardo said KPMG refused to furnish details of an investigation into allegations that the accounting firm improperly accessed confidential Lendlease documents in an effort to win auditing contracts for other companies, The Australian reported Friday.

Addressing a parliamentary inquiry into the scandal, Lombardo said KPMG told the company the matter had been resolved following an internal probe that examined whether the documents were stored in KPMG staff lockers, according to the report.

KPMG refused to provide an account of its probe, and Lendlease reviewed the breach internally in an attempt to figure out how the information was accessed and shared, Lombardo reportedly said at the hearing.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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