Praise for moves to dump KPMG over Gupta account
The Institute of Directors in Southern Africa’s move to suspend ‘cobranding activities’ with KPMG welcomed
The Institute of Directors in Southern Africa (IoDSA), the guardian of the King codes on corporate governance, has suspended "cobranding activities" with KPMG in what is likely to be a blow to the audit firm’s ability to comfort clients while it completes a review of the work it has done for the controversial Gupta family. Iraj Abedian, CEO of Pan-African Investment and Research Services, welcomed the IoDSA’s move and urged corporate SA to take a firmer stance on the KPMG matter. "In a governance sense, KPMG has done more damage to this country than Bell Pottinger. PR firms are paid to spin. The SARS report by KPMG was the basis for firing key executives in SARS," said Abedian who confirmed that he had recently resigned from the board of Munich Re because it would not fire KPMG.
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