As more firms cut ties with KPMG, the audit company names nine new executives
Andrew Cranston, a partner and former chief operating officer of parent KPMG International, will be the local firm’s interim chief operating officer
KPMG ’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm, as clients continued to distance themselves over its involvement with the politically connected Gupta family. Andrew Cranston, a partner and former chief operating officer of parent KPMG International, will be the local firm’s interim chief operating officer, while 36-year company veteran Brian Stephens will take the new position of head of risk, newly appointed CEO of SA operations Nhlamu Dlomu said in an e-mailed statement on Monday. Gary Pickering will lead the audit practice. KPMG International said on September 15 that the local business would face an independent inquiry after an internal investigation found its work for companies associated with the Guptas, who are friends of President Jacob Zuma, fell short of its own standards. Clothing retailer The Foschini Group became the latest South African firm to replace KPMG as auditors on Monday, while Telkom said it would n...
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