KPMG faces ruin if clients desert it over role in state capture
Corporate heavyweights Investec, Standard Bank, Old Mutual, Growthpoint Properties, Sibanye Stillwater and Absa are all considering ending their relationship with KPMG
Auditing firm KPMG SA's reputation is in tatters and it faces ruin as another two major clients ditch it. On Tuesday financial services company Sasfin and investment company Hulisani announced plans to drop KPMG because of reputational risks. Sygnia Asset Management had fired it earlier. Six companies have terminated their KPMG contracts in the past two months.