At least 21 companies out of about 66 JSE-listed firms which use KPMG South Africa as their auditor confirmed this week that there was an internal review of their relationship with the auditing firm. This followed the damning revelations from its parent company over work done for the Guptas which "fell considerably short of KPMG's standards".That nearly 32% of KPMG South Africa's listed clients are having a rethink about the relationship shows that the auditing giant is far from out of the woods. Adding to its problems was a statement by Finance Minister Malusi Gigaba on Friday that, as a way to restore confidence in audits, all of the government and its entities had to immediately consider reviewing their work programmes with KPMG. They have to ensure audit processes have not been compromised, and take steps if they have been.Business Leadership South Africa suspended KPMG South Africa's membership "pending the outcome of an independent investigation" into its conduct. ...
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