KPMG loses Macquarie audit contract over past failures
Macquarie Group ended its relationship with KPMG as its auditor. It will recommend PwC instead. This follows ongoing issues at KPMG. The firm is under parliamentary scrutiny.
Why it mattersA major client leaving an auditor shows loss of trust in the market. It puts pressure on KPMG to fix its problems. Or KPMG might lose more clients to rival firms.
AustraliaAustralia's largest investment bank moving to a different auditor weakens KPMG's standing in the local market and sends a clear signal that parliamentary scrutiny has real business costs.
Corroborated bysmh.com.au
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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