KPMG has closed its US government audit practice following the loss of an army contract, FT reports

KPMG's closure of its US government audit practice signals a significant strategic retreat following the loss of a major army contract. This move could raise concerns about KPMG's competitive positioning in the public sector space and may affect its overall revenue stream. Watch for implications on market sentiment regarding KPMG's operational stability and possible future consolidation in the auditing sector.