AUDITING SCANDALS
KPMG SA to cease consulting services to listed audit clients
Firm says the move is another step towards restoring trust in it and the audit profession
15 February 2021 - 11:21
KPMG’s SA arm will no longer offer consulting services to JSE-listed companies, becoming the first partner in the group’s global network to do so amid sharper scrutiny of an industry rattled by corporate scandals.
The decision, which will apply to all listed companies on its books from April 1, comes as the global accounting industry is under public pressure to split its services due to concern that auditing firms might not challenge their clients over audits for fear of losing their work on the consulting side, which is much more lucrative...
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