Macquarie Win Strengthens KPMG’s Position in ASX20 Audits
KPMG Australia is set to become the leading auditor for the country’s largest publicly listed companies after securing the prestigious Macquarie Group audit, previously held by PwC Australia. This audit contract is considered the most valuable in the nation, with annual fees nearing $75 million.
The victory signifies a notable shift within the big-four auditing firms, marking a significant setback for PwC. The Australian portion of the global auditing engagement alone is valued at approximately $30 million annually.
The Macquarie audit is the most coveted and valuable auditing gig in the country, worth almost $75 million in annual fees.
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Summary
KPMG’s acquisition of the Macquarie audit marks a major strategic win, reinforcing its dominance among Australia’s top listed companies.