Macquarie Win Positions KPMG to Lead ASX20 Audits
KPMG Australia is set to dominate audits for the country's largest publicly listed companies after securing the prestigious Macquarie Group audit from PwC Australia.
This victory, announced on Friday, marks a significant achievement for KPMG and a setback for its major competitor PwC.
Value and Importance of the Macquarie Audit
The Macquarie audit is regarded as the most sought-after and valuable auditing contract in Australia, generating nearly $75 million in annual fees.
Of this, approximately $30 million pertains to the Australian segment of the global auditing work.
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 recent win of the Macquarie audit secures its leading role in auditing Australia's top companies, surpassing PwC in this lucrative market segment.