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Macquarie Group to Retain PricewaterhouseCoopers as Auditor Amid Ongoing Issues at KPMG Australia

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Macquarie Group's (ASX:MQG) board decided against recommending the appointment of KPMG as auditor at the company's 2027 annual general meeting, and will instead retain incumbent auditor PricewaterhouseCoopers, according to a Wednesday filing with the Australian bourse.

The decision follows continued scrutiny of KPMG Australia's audit practice, including information exposed by a parliamentary joint committee, the company said.

The board has concerns related to KPMG Australia's culture, as well as its capacity to deliver the audit given that several key members of the proposed audit team have left, Macquarie said.

Its shares fell 1% in recent Thursday trade.

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