KPMG is shifting away from its work auditing US federal government finances and redeploying staff to other parts of its professional services business.
The accounting and consulting firm is transitioning out of federal audit roles through a multi-year process that meets client and regulatory obligations, KPMG US said in a statement Wednesday. It has prioritized advisory services for the federal government over the past few years, the statement said.
“As demand continues to grow across both Audit and Advisory, we will be redeploying our talented federal audit professionals across the firm to meet client needs,” it said.
The shift comes on the heels of KPMG’s decision to slash the number of partners running its US assurance business, a move aimed at boosting unit productivity.
The federal audit news was reported earlier by the Financial Times.
Amanda Iacone in Washington also contributed to this story.
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