Macquarie Win Positions KPMG to Lead ASX20 Audits
KPMG Australia is set to dominate audit contracts among the country's largest publicly listed companies after securing the prestigious Macquarie Group audit from PwC Australia. This announcement, made on Friday, marks a significant triumph for KPMG and a setback for PwC, its fellow big-four competitor.
The Macquarie audit stands out as the most sought-after and valuable auditing assignment nationwide, generating nearly $75 million in annual fees. The portion of this global audit work attributed to Australia amounts to approximately $30 million.
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 from PwC positions it as the leading auditor of Australia's top-listed firms, securing a highly lucrative contract valued at around $75 million annually.
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