ASIC to release Big Four audit findings before year-end

KPMG: KPMG is one of the global Big Four professional services networks, providing audit, tax and advisory services with a major presence in Australia. The firm has been implicated in recent scandals that prompted heightened regulatory attention on the sector. This development positions KPMG among the audit firms under ASIC's ongoing surveillance program. Australian Securities and Investments Commission: The Australian Securities and Investments Commission (ASIC) is Australia's corporate, markets and financial services regulator responsible for enforcing laws, conducting surveillance and taking enforcement action to promote market integrity. It oversees audit and consulting firms as part of its mandate to protect investors and ensure compliance in the financial sector. ASIC's upcoming release of surveillance findings on the Big Four directly follows recent scandals in the industry. Regulatory Action: ASIC will release part of its surveillance findings on the Big Four audit and consulting firms before the end of the year. Sector Developments: A series of scandals has recently impacted Australia's audit and consulting sector.