The property giant has hit pause on its tender process to pick an auditor, a role PwC was previously widely expected to win.
from winning new work by ordering officials to consider confidentiality breaches when evaluating bids.The move by Lendlease to tender the audit is part of a push by the corporate regulator to force companies to put their auditor role up for grabs more frequently as a way of ensuring auditor independence. KPMG has been the property giant’s auditor since 1958.
It is understood PwC has now been effectively ruled out of contention to win the Lendlease audit, but that the firm has yet to be informed of this move. PwC declined to comment.With a $121 billion development pipeline, Lendlease is one of Australia’s biggest property players and one of the few to have a global portfolio, running major real estate projects across the US, in London and Milan as well as in Asia.
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