PROFESSIONAL SERVICES
Property companies consider dumping KPMG amid Gupta scandal
A group of real-estate companies audited by KPMG is keeping a close eye on the Gupta-linked investigations
A group of real-estate companies which are externally audited by KPMG are monitoring investigations into the firm before deciding whether or not to continue to do business with the financial services firm. KPMG International is reviewing the work KPMG SA did for the Gupta family. The Independent Regulatory Board for Auditors (Irba) is also investigating its Gupta-related work. Growthpoint Properties, the largest property company based in SA, said on Friday it was following investigations. "We are monitoring what the regulators findings are and will make a decision based on that," said Growthpoint investor relations head Lauren Turner. Redefine Properties, which is also audited by KPMG, is also monitoring investigations into the auditing firm. "Redefine is audited by KPMG. We are aware of the allegations against KPMG. Redefine expects all our stakeholders to demonstrate an unyielding commitment to the highest ethical standards. "We understand KPMG are subject to a number of investiga...
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