KPMG SA CEO wants independent investigation into firm

KPMG South Africa wants an independent investigation into the firm’s conduct to reassure employees and clients after they made headlines involving the handling of audits for businessman friends of President Jacob Zuma.

Their South African leadership was cleared on Friday after the auditor found out the work it did for firms owned by the Gupta family fell short of its standards. They found no evidence of crimes or any corruptions related. The Guptas as well as President Zuma have denied any work of corruption. Their companies have not been charged of any crime but they claim to be victims of a politically motivated witch-hunt.

The scandal has coasted KPMG about three major clients and several of South African’s largest listed companies are still contemplating whether to continue using the auditing firm. “We have agreed with the South African Industry of Chartered Accountants that it would be appropriate to set up an inquiry into the matters” said Nlamulo Dlomu, on Talk Radio 702, Friday. Dlomo said the independent inquiry was needed to reassure employees, clients and the rest of the public.

KPMG is the third global form to be damaged by work carried out for the Gupta family. In this case, they have been trying to clear their name with valid evidence proving no work of corruption.

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