ANZ ends decades-long audit tie with KPMG, opens contract to new bidders
ANZ said it will terminate KPMG’s audit role, which has lasted since 1969, and will put the service out to tender, excluding KPMG from the process.
ANZ announced that its external audit function, provided by KPMG since 1969, will be put out to tender, and KPMG will be barred from participating. The decision comes amid a fallout from a whistleblower complaint that alleged senior KPMG partners misused confidential information to win work, a claim that gained public attention after Senator Deborah O’Neill raised it earlier this year. Other institutions, such as Macquarie Bank, have already terminated their audit contracts with KPMG.
ANZ’s board said the tender will be completed by the end of April 2027, with a new auditor appointed for the 2029 financial year, aligning with a major transformation programme and the upcoming integration of Suncorp Bank. The bank’s spokesperson did not reference the whistleblower scandal when explaining the change. KPMG was contacted for comment but did not respond.
