ANZ Group to replace KPMG as auditor after nearly six decades
ANZ Group will hold a competitive tender for external audit services, excluding KPMG, which has served as the bank’s auditor since 1969. ANZ expects the new auditor to start in financial year 2029.
1. KPMG excluded from tender
ANZ Group said it would launch a competitive tender for external audit services. KPMG will not be eligible to participate after serving as the bank’s auditor since 1969.
2. Tender timeline
ANZ intends to conclude the process by the end of April 2027, with the new firm expected to start in financial year 2029. The bank said the timing was appropriate given its transformation agenda and planned integration of Suncorp Bank.
3. Audit scrutiny
ANZ joins other Australian companies reviewing long-standing audit arrangements with KPMG. The firm has faced heightened scrutiny since March, following whistleblower allegations that staff improperly used confidential information to win audit mandates; its chief executive, audit head and chairman resigned.
