Macquarie Group board will dump KPMG as its preferred auditor and stick with PwC following an investigation into the tender process for the $75m annual contract.

Macquarie Group board will dump KPMG as its preferred auditor and stick with PwC following an investigation into the tender process for the $75m annual contract.

KPMG faces another round of job cuts after Macquarie dumped the firm from the most lucrative audit contract in Australia.