KPMG to Exit US Federal Audit Business

KPMG to exit US federal audit business

Big Four firm KPMG is leaving its federal government audit work. The company will move over 450 U.S. staff to new roles. This follows a loss of a major contract with the Pentagon. KPMG had audited the U.S. Army for nearly a decade. The defense department is changing its audit approach.

KPMG Ends U.S. Gov’t Audit Business After Losing Army Contract

KPMG Ends U.S. Gov’t Audit Business After Losing Army Contract KPMG, one of the Big Four accounting firms, is winding down its federal government audit business after losing a $64 million-a-year U.S. Army audit contract, a major setback as the Department of War under Defense Secretary Pete Hegseth moves to bring in another accounting firm....

KPMG Ends U.S. Gov't Audit Business After Losing Army Contract

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

KPMG closes U.S. federal audit practice, trims advisory staff

KPMG is shutting down its audit practice for the federal government after losing a Pentagon contract, and laying off 4% of its U.S. advisory practice.

The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether

The other day — and by the other day we mean like more than a week ago — we received a text on the tipline that read “KPMG US to get rid of the federal audit practice by not renewing their clients contracts.” That is pretty big news so we tried to substantiate it with something, anything other than just the tip (believe it or not that’s a thing we do), a quest which left us empty-handed. Well now we can write it up because Financial Times was ab…