No sign of probe KPMG promised
Auditing firm scrambles to explain why independent inquiry into its work for Guptas and its SARS report has not started
International auditing and accounting firm KPMG is scrambling to justify why there is no progress on setting up an independent investigation into work it did for the controversial Gupta family and its report on the South African Revenue Service’s (SARS’) so-called "rogue unit" despite an undertaking made two months ago. This could put KPMG in a precarious position as several clients have indicated that they are awaiting the outcome of the investigation before deciding whether to carry on doing business with the firm. The firm lost a number of clients, most notably from the public sector, soon after it withdrew its SARS report. KPMG has been at the centre of state capture allegations. The fallout over its work for the Guptas and its SARS report led to the departure of nine senior KPMG executives, including former CEO Trevor Hoole. The firm called for an independent investigation in September. In October newly appointed CEO Nhlamulo Dlomu reiterated this call and it seemed that the fi...
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