Downer files defence, drops KPMG as auditor

Downer has filed its defence in the shareholder class action proceedings and has also lodged a defensive third-party claim against its auditor, KPMG.

As a result, Downer expects KPMG to cease acting as its auditor later this month, and the company will begin the process of appointing a replacement auditor for the financial year ending June 30 2024.

The class action, which was brought against Downer in 2023, is related to a maintenance contract in its Australian Utilities business and its impact on the company's financial performance and earnings guidance in 2022.