Affiliated auditors sever Nkonki ties amid Gupta fallout
The affiliates, which are independent legal entities within the Nkonki network, have distanced themselves from the controversy that drove the Sunninghill office to apply for liquidation
Nkonki’s woes worsened on Tuesday after affiliated audit companies said they had terminated their relationships with the troubled firm and were planning to ditch it. The affiliates, which are independent legal entities within the Nkonki network, say they hope the auditor-general will act rationally in handling their relationships with the office. “I hope that sanity will prevail, that we don’t effectively hamstring an entire network for the actions of one office in that network,” the network’s spokesman, Willem Oberholzer, said. Public sector work remained a “substantial” portion of their income, he said. Nkonki, the largest firm in the network — effectively its Sunninghill office — announced on Monday it had applied for voluntary liquidation after the auditor-general’s decision to terminate its contracts with the company ruined plans by executives to buy out the managing partner and majority shareholder, Mitesh Patel. This could bring to an end a 25-year-old company founded in Janu...
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