Beyond the Gupta wedding: shining a light on KPMG's links with the family
KPMG’s fingerprints are all over the Gupta empire and its controversial deals dating as far back as 2008, Business Day can reveal
KPMG’s fingerprints are all over the Gupta empire and its controversial deals dating as far back as 2008, Business Day can reveal, as an industry digs into the firm’s involvement with the family. KPMG’s involvement in the auditing of Linkway Trading, allegedly used to channel R30m of taxpayers’ money to fund the infamous 2013 Sun City wedding, is the subject of an inquiry by the Independent Regulatory Board for Auditors (Irba). KPMG has promised to do a "comprehensive" review of its work related to the Guptas. The auditing firm also gave advice on investments and forming companies in Dubai, conducted a due diligence on UBank — which the Guptas wanted to buy — and provided a tax opinion and audit of VR Laser Services. This is revealed in leaked e-mails between the Guptas and their associates. They show the extent to which KPMG provided services to the family and at least 36 linked companies, at least until April 2016, when its South African CEO, Trevor Hoole, announced the terminatio...
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