In an unusual move, the audit regulator is to review KPMG SA’s turnaround strategy
The Independent Regulatory Board for Auditors (Irba) said on Friday it had appointed a specialised team to review the turnaround strategy of KPMG’s scandal-hit South African arm. The global auditor has been under close scrutiny since 2017 over work done for a company owned by the Gupta family. The firm responded by appointing veteran public servant and former chairman of the Development Bank of Southern Africa Wiseman Nkuhlu as its chairman in January and said it was reviewing the work of its partners. "Irba has taken the unusual step of mobilising a specialised team specifically to do a review of KPMG’s turnaround strategy," the Irba said in a statement. Irba, which will start the review next week, referred a former KPMG employee to a disciplinary hearing in February over work carried out for Linkway Trading, a project management firm owned by the Gupta family. Sibanye-Stillwater is the latest company to consider a new auditor, saying on Friday it would start looking for a new audi...
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