KPMG on the ropes
Questions are now being asked about whether KPMG could go bust within six months — but that would not mean its auditing role at the big banks would go to smaller firms, whether black- or white-owned
FREE TO READ: Given the importance of this story, we have decided to make this week's FM cover articles free to read. Want to read our columnists and other Financial Mail exclusives regularly? Subscribe now to BusinessLIVE Premium for less than R4 a day. First-time subscribers get the first month for only R10. Take a look at our subscription options to find one that suits you. Reserve Bank governor Lesetja Kganyago warned, in an interview with the Financial Times on Monday, that KPMG’s international business could be imperilled if the firm failed to do more to salvage its reputation in SA. He said KPMG had taken a step in the right direction by appointing an independent inquiry but urged this should be genuinely independent and the results should be made public: "KPMG has to own up. South Africans are angry with what it has done. It accepted work it should not have. This is a global firm that is supposed to have global standards and understandably clients will be asking lots of ques...
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