KPMG left with 'no alternative' but to resign as Downer EDI's auditor

(Image: Downer)

Mon, 04 Mar 2024

KPMG Australia says it has no alternative but to resign as auditor for publicly listed infrastructure group Downer EDI.Downer – which is listed on both the ASX and NZX – told investors on Monday it would be dragging KPMG Australia in on its class action lawsuit brought by shareholders after the company admitted overstating its pre-tax earnings due to accounting irregularities.In February last year, the Sydney-headquartered company admitted to misreporting earnings from a contract leading to an overstatement of post-tax earnings by A...

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