The Board of Insurance Australia Group Limited (IAG) will begin a competitive tender process for the provision of external audit services.
IAG has been well served by KPMG as external auditor since the company’s ASX listing in 2000, with a long-standing practice of regular lead audit partner rotation.
The decision to conduct a tender reflects the Board’s consideration of auditor tenure. With the focus on tenure, KPMG will not be invited to participate.
IAG intends to run the tender process during FY27. In accordance with Sections 329 and 327D of the Corporations Act 2001 (Cth), shareholders will be asked to approve the appointment of the successful audit firm in due course.
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