Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 156

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 156
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 models’ performance.
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●   For a selection of customers in the business portfolios, we challenged the Company’s assessment of CRGs using relevant information in the loan file, including the customer’s financial position, to inform our overall assessment of the CRG against the Company’s policies.
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●   We involved our economic and credit risk professionals with specialised skills and knowledge, who assisted in challenging the macroeconomic variable forecasts against external economic data, evaluating the severity of the downside economic scenario and evaluating the probability weights.
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We have served as the Company’s auditor since 2025.
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KPMG       ​       
Sydney, Australia  
2 November 2025    
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FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
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Limitation on Independent Registered Public Accounting Firm’s Liability
The liability of KPMG in relation to the performance of their professional services provided to Westpac including, without limitation, KPMG's audits and reviews of Westpac's financial statements, is limited under the Chartered Accountants Australia and New Zealand Scheme approved by the New South Wales Professional Standards Council or such other applicable scheme approved pursuant to the Professional Standards Act 1994 (NSW) (the "Professional Standards Act"), as amended from time to time (the "Accountants Scheme"). Specifically, the Accountants Scheme limits the liability of an accountant to a maximum amount of AU$75 million for audit. The Accountants Scheme does not limit liability for a breach of trust, fraud or dishonesty.
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WESTPAC GROUP 2025 ANNUAL REPORT
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<{self.tag} alt="{self.alt}" src="{self.src}">STATUTORY STATEMENTS
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Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Westpac Banking Corporation
Opinion on the Financial Statements
We have audited the consolidated balance sheet of Westpac Banking Corporation and its subsidiaries (the “Company”) as of September 30, 2024, and the related consolidated income statements, statements of comprehensive income, statements of changes in equity and cash flow statements for each of the two years in the period ended September 30, 2024, including the related notes (collect