It is apparent that South Africans want KPMG’s blood. The mob mentality has finally reached the level of the best and brightest. How naïve of me to believe that one is innocent until proven guilty. People are acting like children wanting immediate gratification. As a result of what KPMG may or may not have done, the entire accounting and auditing profession has been set upon by a lynch mob baying for blood, not only of KPMG but the audit regulator as well. Prior to this, SA was number one in the world in auditing standards, now we are number 30 — this country has a tendency to destroy what is good. The audit regulator is the best in the world, no once-off incident will ever destroy that. This hysteria must come to an end, it is impacting on young accountants futures. No more legislation is going to help. How many more corporate governance codes can we have? How many more commissions are we going to have? For the sake of simplicity, auditors check the books: they only check a small s...
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.