26 August 2026
KPMG Australia acknowledges today's announcement by the Board of Macquarie Group that it will no longer recommend the appointment of KPMG as the Group’s auditor.
While disappointed by the outcome, KPMG respects the decision taken by Macquarie.
KPMG’s new leadership remains firmly committed to delivering the organisational change that is necessary to address the issues that led to today’s outcome.
KPMG CEO John Sams said: "Today’s announcement by Macquarie is a clear reminder that the consequences of our past failings are real. Rebuilding trust will require sustained action, transparency and time. I am committed to leading this change with honesty, transparency and urgency.
"I recognise that this news will be difficult for many of our people, particularly those who worked on the tender and transition, but we will rebuild confidence by facing the issues directly, learning from them and delivering lasting change.
“Macquarie’s decision underscores the importance of the sweeping program of change underway across KPMG. Under our Action Plan, we have commenced a thorough review of our culture, strengthened the firm’s governance and are making substantial changes to leadership. We are cooperating with the regulatory and parliamentary review processes and are committed to providing updates as appropriate on progress.”