It has been nine months since the Independent Regulatory Board for Auditors (IRBA) announced it had launched an investigation into KPMG’s audits of Linkway Trading, the Gupta company used to channel government funds to the family’s Sun City wedding in 2013. The regulator’s probe, which also covers KPMG’s report on the so-called rogue unit at South African Revenue Service (SARS), has now widened. Irba is tight-lipped about its new lines of inquiry, suggesting that some of the information it has uncovered is not yet public. As the board has about 150 open investigations, including a review of Deloitte’s audit on Steinhoff for 2014, 2015 and 2016, it could take at least eight more months to wrap up the KPMG matter. Its investigation into Deloitte took almost two years and the disciplinary hearing started more than three and a half years after Deloitte’s client, African Bank, collapsed. That is why the South African Institute of Chartered Accountants (Saica) commissioned the Ntsebeza In...
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