Market Alert : Will the RBA’s Next Rate Move Keep Australian Investors on Edge?

Oct 02, 2026
Mayank Bansal
Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.

ANZ Launches Auditor Tender, Ending KPMG’s 57-Year External Audit Tenure

ANZ Launches Auditor Tender, Ending KPMG’s 57-Year External Audit Tenure Source: Kapitales Research

Highlights:

  • ANZ will seek a new external auditor after nearly six decades with KPMG.
  • KPMG is excluded from the tender, creating a significant change in ANZ’s oversight framework.
  • The winning audit firm is expected to begin work from Financial Year 2029.

ANZ Moves Toward Auditor Change

ANZ Group Holdings Limited (ASX: ANZ) announced on 2 October 2026 that it will commence a competitive tender to select its next external auditor, setting the stage for the end of its decades-long relationship with KPMG.

KPMG has provided ANZ’s external audit services since 1969. Although the lead audit engagement partner and engagement quality control review partner have been rotated regularly, ANZ’s board determined that maintaining the same audit firm for such an extended period was no longer appropriate.

The decision represents a notable governance development for one of Australia’s largest banks, particularly as major institutions face continued scrutiny over auditor independence, oversight and long-term professional relationships.

Tender Timeline Takes Shape

ANZ has outlined several important steps in the transition:

  • The competitive tender is expected to conclude by the end of April 2027.
  • The selected audit firm is scheduled to commence services in Financial Year 2029.
  • Shareholders are expected to vote on the successful appointment at ANZ’s 2028 Annual General Meeting.
  • KPMG will not be permitted to participate because of its lengthy tenure.

ANZ said the timing also takes into account the bank’s substantial transformation program and planned integration of Suncorp Bank.

Why the Change Matters?

Changing an auditor after 57 years is a substantial undertaking for a banking group with complex financial reporting, regulatory and risk-management requirements. The extended transition period should provide ANZ with time to assess prospective firms while maintaining continuity during other major organisational changes.

The move also highlights growing corporate attention to auditor tenure and independence. Importantly, ANZ’s official announcement frames the decision around KPMG’s long tenure rather than citing an audit failure or disagreement.

What Comes Next?

Attention will now turn to which major accounting firm secures the mandate and how ANZ manages the transition ahead of Financial Year 2029. With the tender expected to conclude by April 2027, the process will remain an important governance development for shareholders as ANZ progresses its broader transformation agenda.

Note- All data presented is based on information available at the time of writing.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

 

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au