Macquarie Win Puts KPMG on Track to Dominate ASX20 Audits
KPMG Australia is set to become the leading auditor for the country’s largest 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 its big-four rival PwC. The Macquarie audit is regarded as the most coveted and valuable auditing contract in Australia, generating nearly $75 million in annual fees.
Within this total, the Australian segment of the global audit work is valued at 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 victory in winning the high-value Macquarie audit positions it to dominate auditing for Australia’s top listed companies.
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