Sasfin ditches KPMG after 18 years on Gupta fallout
Sasfin CEO Roland Sassoon says 'the Gupta story' is a key factor in its decision
Sasfin Bank and recently listed Hulisani are the latest businesses to jettison KPMG over the work it did for the Gupta family. Sasfin plans to put its audit out to tender in November, after switching to Deloitte as its new independent sponsor on Tuesday. Hulisani, a special-purpose acquisition company, plans to replace KPMG with PwC at next month’s annual general meeting. Sasfin CEO Roland Sassoon said “the Gupta story” had been a key factor in its decision. “There’s this dark cloud over KPMG and we don’t want to pass judgment, so we’ll see how the dust settles.” It is another blow for the auditing firm, which had audited Sasfin’s accounts for the last 18 years. KPMG has also been fired by Sygnia and talk is that Investec and Old Mutual are considering their relationship with the firm, after leaked e-mails exposed how it had aided the Gupta family in dubious financial transactions Sasfin said its decision to cut KPMG as sponsor was taken a while ago. “It was felt by our audit commit...
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