A bad week for KPMG SA’s Wiseman Nkuhlu
KPMG SA executive chair Wiseman Nkuhlu, an accountant of undoubted probity, says the company is disappointed to lose Nedbank as a client, but remains proud of the work that it have performed for the bank
To wide acclaim, Ethiopian MPs unanimously elected veteran diplomat Sahle-Work Zewde as the country’s first woman president, days after approving one of the world’s few "gender-balanced" cabinets. The post, though largely ceremonial, is part of Prime Minister Abiy Ahmed’s dramatic reforms. Zewde plans to "work hard to make gender equality a reality" in patriarchal Ethiopia. She is Africa’s only current woman head of state. Its first woman president, Liberia’s Ellen Johnson Sirleaf, left office this year.
Nedbank became the latest big client to ditch embattled auditor KPMG in the wake of its damaging report on an alleged rogue unit at Sars (not to mention its role in the VBS "bank heist"). KPMG SA executive chair Wiseman Nkuhlu, an accountant of undoubted probity, said: "It is always disappointing to lose a client, but we remain very proud of the work that we have performed for Nedbank over many years." Among the major audits KPMG has lost are Absa, Saica, the auditor-general, Gold Fields and Finbond.