Macquarie Win Positions KPMG to Lead ASX20 Audits
KPMG Australia is set to become the leading auditor of 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 achievement for KPMG and a setback for its Big Four competitor, PwC. The Macquarie audit is considered the most sought-after and valuable audit contract in Australia, valued at nearly $75 million in annual fees.
Of this total, the Australian segment of the global auditing contract accounts for about $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 cements its leadership among Australia’s top-listed companies, signaling a competitive shift in the Big Four auditing landscape.
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