Macquarie win puts KPMG on track to dominate ASX20 audits
KPMG Australia is set to strengthen its leadership among auditors of the nation’s biggest listed companies after securing the highly sought-after Macquarie Group audit from PwC Australia.
The victory, announced on Friday, marks a significant milestone for KPMG while dealing a setback to its big-four competitor PwC.
The Macquarie audit is the most coveted and valuable auditing assignment in Australia, valued at nearly $75 million annually.
Within this amount, approximately $30 million accounts for the Australian segment of the global auditing operations.
- The Macquarie audit win signals KPMG’s growing dominance in the ASX20 space.
- The deal underscores KPMG’s competitive edge over other major firms, including PwC.
Author’s Summary
KPMG’s acquisition of the $75 million Macquarie audit cements its position as the leading auditor for Australia’s largest public companies.
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