Mutual bank Finbond joined the growing list of JSE-listed companies that have fired KPMG over the auditing firm’s association with various state capture scandals. "The board of directors of Finbond, through the audit, risk, and social and ethics committees, have investigated and assessed the well-publicised, serious concerns with regards to KPMG, as reported in the media as well as communications in response thereto by KPMG," Finbond said in a statement on Thursday, a day after it released its financial results for the year to end-February. "Given the board’s commitment to good governance, principled and ethical behaviour, the board has resolved that it can no longer justify nor support Finbond’s further association with KPMG." Mining group Sibanye-Stillwater recently issued a similar statement ahead of its annual general meeting (AGM), saying it would not propose to have KPMG reappointed as its auditor "following the ongoing and more recent VBS Bank developments". Barclays Africa G...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.