AUDIT SAGA
Little detail on probe into KPMG on Gupta job
There was confusion surrounding the independent inquiry into the work KPMG SA conducted for the Guptas and the report the audit firm compiled on the South African Revenue Service’s (SARS’) so-called rogue unit. Despite an earlier announcement that the senior counsel of the panel, terms of reference and scope of the inquiry would be made known on Thursday, there was still no information available by the evening. Last week new KPMG SA CEO Nhlamu Dlomu said the announcement would be made on October 12. Business Day was first informed that the South African Institute of Chartered Accountants (Saica) was convening the inquiry and it would make the announcement. But late on Thursday KPMG SA said it would not be making the announcement. Saica CEO Terence Nombembe clarified that the institute would play an oversight role, to ensure that the inquiry was indeed established and that it was independent. The inquiry would be led by a retired judge or an advocate. The announcement on how the inqu...
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