Macquarie Win Positions KPMG to Lead ASX20 Audits
KPMG Australia is set to dominate audits of the country’s largest listed companies after securing the Macquarie Group audit from PwC Australia. This prestigious audit is the most sought-after and valuable in the nation, generating nearly $75 million in annual fees.
The recent announcement marks a significant triumph for KPMG and a setback for its big-four competitor, PwC. The Australian segment of the global audit contract alone 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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Key Facts
- KPMG won the Macquarie Group audit from PwC Australia.
- The audit brings nearly $75 million in yearly fees.
- Australian portion of the audit is valued around $30 million.
By securing the Macquarie audit, KPMG strengthens its position as the leading auditor for major Australian companies listed on the ASX20.
Author’s summary: KPMG’s acquisition of the Macquarie audit strengthens its leadership in Australia’s top audit market, challenging PwC in a high-value contract worth $75 million annually.
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