🔥 Gündem Macquarie Group Replaces KPMG as Auditor: What You Need to Know

Macquarie Group Retains PwC, Reverses Decision on KPMG Amidst Scandal

Macquarie Group, an Australian global financial services institution, announced on August 26, 2026, that it will retain PricewaterhouseCoopers (PwC) as its auditor and will no longer recommend KPMG for the role at its 2027 Annual General Meeting ¹²⁸. This decision marks a significant reversal from an earlier plan to appoint KPMG and comes in the wake of a damaging data-sharing scandal involving KPMG Australia ⁴⁶.

Background of the Decision

Macquarie Group's board had previously considered appointing KPMG as its new auditor. However, following an investigation into the tender process for the approximately $75 million annual contract and scrutiny of KPMG Australia's audit practices, the board opted to stick with PwC ⁵⁶. The decision was influenced by concerns regarding KPMG's culture and its ability to perform the audit work effectively, particularly in light of the data-sharing scandal ⁴.

The Impact of the Scandal

KPMG Australia has been embroiled in a scandal involving a whistleblower's allegations concerning its audit practices ⁶. This scandal appears to have played a crucial role in Macquarie's decision to withdraw its recommendation for KPMG ³⁴⁹. Several reports indicate that the "scandal-plagued" nature of KPMG was a key factor in Macquarie Group's board voting against recommending the firm as its preferred auditor ³⁹¹⁰.

KPMG's Reaction

KPMG Australia has expressed its disappointment regarding Macquarie Group's decision to abandon the plans to appoint them as auditor ⁷. This development highlights the ongoing fallout and challenges faced by KPMG in the wake of the scandal.

PwC's Continued Role

Macquarie Group reaffirmed PwC's capacity to deliver the audit engagement, citing the firm's high-quality tender proposal ⁸. PwC will continue to serve as Macquarie Group's global auditor, a role it has held for some time ¹²⁸.