KPMG Australia is facing its biggest crisis in years after allegations that confidential client information was misused to help win lucrative audit contracts. In this episode, Amy Bainbridge talks to finance reporter Richard Henderson about what emerged from an explosive parliamentary hearing, and why more senior executives are stepping down. 

We also examine the scandal’s broader implications for the consulting industry, investors and corporate Australia. Why has so little changed since PwC's own confidentiality scandal – and are the industry's rules fit for purpose?

KPMG Australia is facing its biggest crisis in years after allegations that confidential client information was misused to help win lucrative audit contracts. In this episode, Amy Bainbridge talks to finance reporter Richard Henderson about what emerged from an explosive parliamentary hearing, and why more senior executives are stepping down. We also examine the scandal&rsquo;s broader implications for the consulting industry, investors and corporate Australia. Why has so little changed since PwC's own confidentiality scandal &ndash; and are the industry's rules fit for purpose?

Each week, Rebecca Jones and Bloomberg's team of reporters lift the lid on the biggest stories shaping Australia's place in global business. 

Each week, Rebecca Jones and Bloomberg's team of reporters lift the lid on the biggest stories shaping Australia's place in global business.

Each week, Rebecca Jones and Bloomberg's team of reporters lift the lid on the biggest stories shaping Australia's place in global business.

The Bloomberg Australia Podcast

Each week, Rebecca Jones and Bloomberg's team of reporters lift the lid on the biggest stories shaping Australia's place in global business.

‘Egregious and Inexplicable’: KPMG’s Day of Reckoning

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0b5bf99d-0fd9-413a-ae20-b4740046858b/transcript

The Iran war has sent fuel prices soaring, but it may also be accelerating a much bigger shift in how Australians get around. Electrified vehicles have accounted for more than half of new car sales in recent months, as high petrol prices collide with a wave of cheaper models from China.

Bloomberg economist James McIntyre joins Chris Bourke to explain why the shift could eventually make Australian households — and inflation — less vulnerable to global oil shocks. They also discuss what it could mean for the Reserve Bank and why, after three interest-rate hikes this year, McIntyre thinks the RBA is finally done.

The Iran war has sent fuel prices soaring, but it may also be accelerating a much bigger shift in how Australians get around. Electrified vehicles have accounted for more than half of new car sales in recent months, as high petrol prices collide with a wave of cheaper models from China.
Bloomberg economist James McIntyre joins Chris Bourke to explain why the shift could eventually make Australian households &mdash; and inflation &mdash; less vulnerable to global oil shocks. They also discuss what it could mean for the Reserve Bank and why, after three interest-rate hikes this year, McIntyre thinks the RBA is finally done.

The Surprising Link Between EVs and Interest Rates

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/39ba5791-c21b-4c78-919a-b4b30029ec05/transcript

Australia’s housing downturn is gathering pace — and the nation’s biggest banks are starting to feel the effects. Mortgage applications are falling, investor lending has slumped and house prices have retreated from their March peak as higher interest rates and tax changes weigh on demand.

On this episode, host Chris Bourke is joined by finance editor Adam Haigh to unpack what CBA, Westpac, ANZ and NAB are saying about where house prices go from here, how a prolonged slowdown could squeeze bank profits and what it all means for investors. They also examine why the Reserve Bank sees the housing slowdown as a sign its tightening is working — and how much further the market could fall.

Australia&rsquo;s housing downturn is gathering pace &mdash; and the nation&rsquo;s biggest banks are starting to feel the effects. Mortgage applications are falling, investor lending has slumped and house prices have retreated from their March peak as higher interest rates and tax changes weigh on demand.
On this episode, host Chris Bourke is joined by finance editor Adam Haigh to unpack what CBA, Westpac, ANZ and NAB are saying about where house prices go from here, how a prolonged slowdown could squeeze bank profits and what it all means for investors. They also examine why the Reserve Bank sees the housing slowdown as a sign its tightening is working &mdash; and how much further the market could fall.

What Bank CEOs Are Saying About the Housing Downturn

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/95842f8f-fe8f-4747-bf84-b4ac001f5582/transcript

Bird flu has reached Australia and is spreading rapidly among wild birds, raising fears it could jump into commercial poultry flocks and put further pressure on already elevated food prices. In this week’s podcast, recorded on Aug. 11 as the outbreak continues to evolve rapidly, agriculture reporter Ben Westcott explains why eggs would be particularly vulnerable, what producers and governments are doing to contain the virus, and what previous outbreaks in the US can tell us about the potential economic fallout.

Australia had more time than most countries to prepare, but the virus remains unpredictable — with potential consequences stretching from native wildlife and poultry farms to dairy cattle and, in a worst-case scenario, humans. We look at the lessons from overseas, the rollout of vaccines for endangered wildlife and the warning signs to watch in the weeks ahead.

Bird flu has reached Australia and is spreading rapidly among wild birds, raising fears it could jump into commercial poultry flocks and put further pressure on already elevated food prices. In this week&rsquo;s podcast, recorded on Aug. 11 as the outbreak continues to evolve rapidly, agriculture reporter Ben Westcott explains why eggs would be particularly vulnerable, what producers and governments are doing to contain the virus, and what previous outbreaks in the US can tell us about the potential economic fallout.
Australia had more time than most countries to prepare, but the virus remains unpredictable &mdash; with potential consequences stretching from native wildlife and poultry farms to dairy cattle and, in a worst-case scenario, humans. We look at the lessons from overseas, the rollout of vaccines for endangered wildlife and the warning signs to watch in the weeks ahead.

How Worried Should We Be About Bird Flu?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/460a020f-4698-4de6-874c-b4a50025b840/transcript

‘Egregious and Inexplicable’: KPMG’s Day of Reckoning

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