Bullock says RBA will re-tender KPMG whistleblower hotline contract amid scandals

The Reserve Bank of Australia (RBA) is set to re-tender the contract for its whistleblower hotline service, a move that signals a significant distancing from the auditing firm KPMG. RBA Governor Michele Bullock announced the decision, confirming that the bank will seek new providers for the crucial service.

This development occurs against the backdrop of recent scandals that have embroiled KPMG. The auditing giant has faced scrutiny over various issues, prompting the RBA to reconsider its partnership and seek a more reliable or reputable provider for its confidential reporting channel.

The whistleblower hotline is a vital mechanism for staff to report misconduct or concerns confidentially. By re-tendering the contract, the RBA aims to ensure the integrity and effectiveness of this system, particularly in light of the reputational challenges faced by its current provider.

Governor Bullock's confirmation underscores the RBA's commitment to maintaining robust governance and ethical standards. The decision to move away from KPMG for this service reflects a proactive approach to risk management and a desire to uphold public trust in the institution's operations.

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The bank will re-tender its whistleblower hotline service.