KPMG Executives Paid Severance Packages to Leave the Firm

The South African KPMG director, Gary Pickering stood in parliament in front of public accounts committee (SCOPA) and acknowledged that the KPMG executives who left the firm due to their association with the Guptas and SARS, were paid severance packages.

Trevor Hoole who was CEO then and eight other senior executives were amongst the executives that left the firm in September.

After they left, revelations about the firm’s conduct in its report on the South African Revenue Service ‘Rogue Unit’ followed. Parts of the revelations include that the firm withdrew its works on Gupta companies including Oakbay.

KPMG is now under investigation by the industry watchdogs; the Independent Regulatory Board of Auditors.

After Trevor Hoole along with the other senior executives left, a new CEO was appointed. Nhlamulo Dlomu is now the newly appointed CEO.

The new CEO and director are to brief Scopa on Thursday.

MP Nthabiseng Khunou was the only ANC committee member in the room at the Scopa hearing.

KMPG director, Pickering is still to address the Scopa as to who the executive were paid the money they were paid when in actual fact they are the ones who decided to leave with immediate effect.

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