As the alleged wrongdoing at Bishops Diocesan College shows, equating wealth with virtue is a bad idea, writes Helena Wasserman.
Sprinkles early. Morning clouds. Mild.
"Delighting" clients has become the primary aim for accounting firms and this undermines their moral courage, says KPMG SA chair Wiseman Nkuhlu.
KPMG South Africa says it is now "a very different business", as it appeals for public trust after being embroiled in Gupta-linked and other auditing scandals.
The auditing firm will be closing four smaller regional offices and retrenching around 400 staff members, in part because of the termination of work it did for the Auditor-General.
KPMG, which has been under fire in SA for its audits of Gupta-owned firms and its role in the so-called rogue unit report, is facing possible shareholder protests in the US, according to the Financial Times.
New KPMG chair Wiseman Nkhuhlu aims to open up the company to the highest scrutiny and believes that with the necessary action, the audit firm could be turned around in 18 months.
KPMG South Africa's executive chairman, Wiseman Nkuhlu, says enhanced audit reviews and stringent client selection are just some of the key strategies that the firm has since adopted to rebuild its tainted brand.
Solly Moeng takes a look at respected personalities brought in to clean up following political and corporate scandals. Can their personal brands inspire trust where organisations failed?
KPMG SA has announced it expects some 400 people to leave the firm as it shuts several regional offices.
KPMG SA's new chairperson says he took the job to fix the damage done to the entire chartered accountancy profession.
Professor Wiseman Nkuhlu, the chancellor of the University of Pretoria, will become the new board chair of KPMG South Africa from March 1.
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