The pay structure could be improved (pay relative to cost of living not 'market'). All your hard work gets the partners (not necessarily you) paid.
While top talent is identified though a fair ratings process, it is subsequently exploited. In other words, if you get a high rating you will be subjected to a challenging, (i.e. crushing) workload because "you can handle it.' This is fine if you love auditing. However, if you don't take satisfaction from being treated like a cop by clients who don't respect you, then auditing may not be for you.
Also, KPMG's technology lags behind the other Big 4 firms and, at times, is borderline mind-numbing.