ANZ drops KPMG as auditor after almost 60 years
ANZ Bank has decided to end its 60-year auditing relationship with KPMG starting in 2029 following a series of whistleblower scandals at the consulting firm. While a professional review suggested improvements to KPMG's ethics and training, it stopped short of making critical findings against the firm.
Why it matters
The loss of a major client like ANZ highlights the significant reputational and financial consequences for professional services firms embroiled in corporate governance scandals.
— 1:56pm , first published 11:45am
Save You have reached your maximum number of saved items.
Remove items from your saved list to add more.
Share A A A ANZ has dropped KPMG after almost 60 years of it holding the $29 million contract to audit the bank’s accounts, in a fresh blow to the consulting firm that is dealing with the fallout from a damaging whistleblower scandal.
But despite the allegations roiling the firm, the professional body charged with upholding the standards of auditors has made no critical findings about KPMG in a report published on Friday afternoon.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in