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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteANZ has announced a competitive tender for its next external auditor, ending KPMG’s 57-year run as the bank’s audit provider. KPMG cannot bid, but the change is not immediate: ANZ expects to choose a firm by the end of April 2027, seek shareholder approval at its 2028 AGM and have the new auditor begin in FY2029. ANZ has not said the tender was prompted by KPMG’s whistleblower controversy.
What ANZ announced
On 2 October 2026, ANZ said its Board would begin a competitive tender to select the bank’s next external audit services firm. KPMG has provided that service since 1969. ANZ said that “a tenure of this length is no longer considered appropriate” and that the question had been under Board consideration for some time. ANZ’s announcement also says the Group Lead Audit Engagement Partner and Engagement Quality Control Review Partner were regularly rotated during KPMG’s tenure.
ANZ’s statement gives a tenure rationale; it does not say the decision was made because of the whistleblower matter. The announcement also does not set out the tender’s detailed criteria, bidder count, fees or transition mechanics.
When the auditor will change
The tender, shareholder vote and start of the new audit are separate future milestones. ANZ described these dates as expectations, not completed events:
| Milestone | ANZ’s announced timing |
|---|---|
| Tender concludes | Expected by the end of April 2027 |
| Shareholder approval | Selected firm to be put to shareholders at the 2028 AGM, after the tender and cleansing period |
| New provider begins | Expected in FY2029 |
ANZ said the Board considered this timing appropriate in light of the bank’s significant transformation agenda and planned integration of Suncorp Bank. That is ANZ’s explanation for the timetable, not a stated link to the KPMG controversy.
Can KPMG bid, and who will replace it?
KPMG is not eligible to participate because it is the incumbent and has served ANZ for so long. ANZ has not named a successor or shortlist. The winner remains to be selected through the tender and then presented for shareholder approval.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the KPMG controversy fits the announcement
The tender comes amid scrutiny of KPMG Australia, but the timing alone does not establish that the controversy caused ANZ’s decision. KPMG said on 29 May 2026 that its treatment of a whistleblower and its initial investigation fell short of expectations. It said an external legal review had supported the initial investigation, but the whistleblower’s concerns escalated; a Board sub-committee then appointed Allens to conduct a further external legal investigation, which KPMG described as ongoing at that time. KPMG’s statement does not establish the outcome of that further investigation.
At a parliamentary hearing on 19 June 2026, ASIC said it had formal investigations underway concerning KPMG registered company auditors in relation to two distinct issues. The existence of investigations is not a finding that allegations have been proven. ASIC described high-quality independent audit as critical to market integrity and informed investor decision-making. ASIC’s opening remarks provide that regulatory context.
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What remains unknown
- Which firm will take over: ANZ has not announced the successful bidder.
- How many firms will compete, what the tender criteria are, and what fees or transition arrangements will apply: these details were not stated in ANZ’s announcement.
- Whether the whistleblower controversy influenced the Board’s decision: ANZ has not made that connection in its announcement.
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