Lendlease's board decided on June 15, 2026, to change its auditor after the 2026 financial year end reporting period, ending a 68-year relationship with KPMG Australia [1, 2, 3].
The decision follows a formal investigation by the Australian corporate regulator into three KPMG Australia partners connected to whistleblower allegations of confidential client data misuse. The whistleblower alleged that confidential Lendlease board papers were used by KPMG to aid bids for audit tenders at Westpac and Dexus [1, 2, 3].
KPMG Australia CEO Andrew Yates and audit head Julian McPherson resigned on May 29, 2026, after the misuse of confidential client data was confirmed [1]. KPMG was paid more than A$10 million for audit services to Lendlease in 2025, reflecting the firm's longstanding role as auditor [1].
Lendlease aims to manage an orderly handover to a new auditor during fiscal year 2027, with the incoming auditor expected to begin auditing from fiscal year 2028 [2, 3].
The board's resolution marks a significant shift after nearly seven decades of continuous auditing by KPMG Australia, prompted by the regulatory probe and client confidentiality concerns [1].
