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Business

Kaaren Morrissey

Scandal-hit KPMG rakes in billions, slashes jobs

KPMG Lukas Coch

KPMG is banned from applying for federal government contracts until at least the end of September. (Susie Dodds/AAP PHOTOS)

A major consultancy firm that has been under fire for practices in its audit business will cut its local workforce after being suspended from applying for government contracts.

KPMG, which is one of the top four firms behind Deloitte, PwC and EY, on Monday revealed its annual revenue fell one per cent to $2.5 billion in fiscal 2026.

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