Former Lendlease chair and Westpac board member Michael Ullmer spilled major corporate secrets to a parliamentary committee, accusing KPMG of mishandling confidential client data — and blaming fellow director Peter Nash for failing to alert the full Westpac board. Ullmer slammed the “Chinese walls” excuse as absurd, highlighting how Westpac’s legal team only learned key allegations in mid-May, already labeled as “cleared.” The scandal has triggered senior departures at KPMG and now involves former RBA governor Glenn Stevens, who chairs Macquarie — itself reviewing whether KPMG can even handle its $70 million annual audit contract amid mounting ethical questions and governance failures.
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