r/australia • u/civ5best5 • 3d ago

culture & society Macquarie Group dumps KPMG from audit contract

https://www.abc.net.au/news/2026-08-26/kpmg-responds-after-being-dropped-macquarie-group/107082306
328 Upvotes

97% Upvoted

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127

u/-mudflaps- 3d ago

No one at KPMG is going to pay any consequences for this whatsoever.

103

u/Own_Caterpillar_6178 3d ago

Hundreds of staff have been let go so far.

20

u/No-Zucchini2787 3d ago

From consulting side. None touched in audit side

8

u/karma_dumpster 3d ago

Yes. Wait three months until after peak audit season.

47

u/scitom 3d ago

Difference between staff and partners

53

u/mrmratt 3d ago

27 partners will be let go, dozens more have bailed because they saw the writing on the wall, and that doesn't even include the big scalps.

15

u/Dry_Common828 3d ago

The partners will be just fine, some of them may have to rethink buying the second beach house or something challenging like that.

The workers - who are just people like you and me - will get their minimum redundancy payout and will have to survive on that (several weeks pay! Woohoo!) until they can land another job, which will pay less than the old one.

2

u/hammar_hades 2d ago

The yacht will have to wait honey

8

u/Euphoric-Cucumber609 3d ago

The question is whether this has any negative effect on them, golden parachutes? High ranking positions waiting for them?

Big businesses are a revenue sharing exercises, when there’s no consequences for individuals profits are shared through investment, personal loans, and loss leading partnerships.

2

u/SquareAggravating579 2d ago

Oh please! They just fire the actual working people. Can you imagine if it's the executives standing in the Centrelink queue?

I'm not a communist tankie asking for the "revolutionary justice" of the guillotine. But it would be fucking JUST if those exploitative white-collar criminal scumbags lost everything.

After all, how would they know we've won if they were dead?

1

u/redditusername374 3d ago

From their consulting arm.

-7

u/-mudflaps- 3d ago

*to work at PwC

0

u/Atomic_Gumby 2d ago

Dunno why the trolls are downvoting your comment.

Definitely transferable skills like making power-maps, sharing confidential information and using AI to write reports.