Australia’s share market closed higher on Friday, gaining 0.8 per cent, as investors responded positively to corporate developments and broader market momentum.
One of the day’s major business stories involved ANZ, which announced it had dropped KPMG as an external service provider following the audit leaks scandal that shook Australia’s corporate and consulting sectors earlier this year. The controversy raised serious concerns about confidentiality, governance and professional conduct, prompting several organizations to review their relationships with the accounting giant.
The combination of a stronger share market, significant corporate developments and the prospect of a major IPO made for an eventful day on Australia’s financial markets. Investors will continue to monitor developments surrounding Firmus’s fundraising plans, as well as the ongoing fallout from the KPMG audit leaks controversy.
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