Macquarie Win Positions KPMG to Lead ASX20 Audits
KPMG Australia is set to become the leading auditor for the nation's largest publicly listed companies after securing the prestigious Macquarie Group audit from PwC Australia.
This achievement marks a significant triumph for KPMG and a setback for its major rival, PwC.
Value and Importance of the Macquarie Audit
The Macquarie audit is considered the most sought-after and valuable auditing contract in Australia, generating nearly $75 million in annual fees.
Specifically, the Australian portion of the global auditing responsibilities 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.
Additional Information
- The announcement of KPMG's win was made on Friday.
- The outcome significantly strengthens KPMG's position within the Australian audit market.