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Allan Fels says the government should intervene in audit market

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The Coalition scored a solid byelection victory in the Gold Coast seat of Fadden; Deloitte executives will front a Senate inquiry into consultancies. Follow updates here.

Consulting firm Deloitte will be asked to explain two conflicts of interest and a number of other claims when senior executives face a Senate inquiry into consulting services today.

The auditor-general later concluded it “did not represent an independence threat to the financial statements being audited”. The firm also revealed that from 2012 to 2022 there had been 78 “substantiated concerns” including 18 relating to “misuse of confidential or proprietary information”, while there were 10 similar examples in 2022-2023.

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