ARTICLES RELATING TO AUDITING

Sifiso Skenjana: Sweet to sour at Tongaat (and why 'financial irregularities' impact us all)

2019-06-18 07:00

A trend of financial 'irregularities' among corporates wreaks havoc on the savings prospects of South Africans, including for retirement, says Sifiso Skenjana.

Ignatius Sehoole takes the reins as KPMG head

2019-06-04 16:23

Ex-SAICA president Ignatius Sehoole has taken up his position as CEO of KPMG, the company said in a statement on Tuesday.

UPDATE: Adjustments were made to AYO financial statements, but they're being audited - inquiry hears

2019-05-14 20:00

Accounting adjustments were made to reflect higher profits in AYO Technology Solutions' interim financial statements, the PIC commission of inquiry heard.

Solly Moeng: KPMG did so much wrong. Now, it's doing right

2019-03-30 13:31

KPMG helped SA falter, but with hard work, it could be part of the solution too, says Solly Moeng.

KPMG says it is on renewal path after series of audit scandals

2019-03-08 14:01

KPMG South Africa has released a 45-page report laying out the measures it adopted as it tries to recover from the reputational damage it suffered after the revelation of irregular audit practices by some of its partners.

The City of Johannesburg missed its target for pothole repairs by a large margin – and its track record for rates certificates is shaky

2019-02-01 06:02

The Joburg city council definitely fell well short of its targets on repairing potholes and issuing rates certificates – but the Auditor-General can't judge by how much because of the state of its books.

PIC said to face Steinhoff probe

2018-12-10 19:48

South Africa is investigating a R9bn loan made by the PIC to a BEE partner of Steinhoff International, according to people familiar with the matter.

KPMG to donate millions in Gupta fees to civil society

2018-12-03 13:24

The auditing firm says it will be distributing the R47m it earned in fees from Gupta-related entities to civil society.

Slow disciplinary process hampers Saica’s case against accountant Khaya Sithole

2018-11-26 16:06

Accountant and commentator Khaya Sithole has complained about the slow disciplinary process by the South African Institute of Chartered Accountants, which could extend until 2019, with no finalisation.

Worst-ever score for corporate governance in SA - index

2018-11-01 21:42

A scandal-ridden year served up a dismal report card for SA, with the worst-ever score for ethics, compliance and assurance since the Corporate Governance Index's inception five years ago.

 

PwC’s R67m UK fine gives fresh ammunition to audit critics

2019-06-13 13:11

PwC was fined about R67m by the UK’s accounting watchdog over failings in its handling of technology firm Redcentric

KPMG faces a R230 million fine in the UK for a failed bank audit that, unlike VBS in South Africa, was an honest mistake

2019-05-23 10:01

The audit firm argues it should only pay R25.4 million in fines for admitted misconduct in its work on the books of Bank of New York Mellon, because its "work did not fully reflect all aspects of the new guidance applicable”.

Solly Moeng: Here's how auditors can help rebuild SA

2019-04-24 06:02

Corrupt auditors did substantial damage to the country. The profession as a whole can help fix that, says Solly Moeng.

Expect surge in irregular expenditure reported at SOEs, says Gordhan

2019-03-14 06:00

In the past, auditors failed to correctly identify it, Public Enterprises Minister Pravin Gordhan has said.

Auditing board wraps up disciplinary hearing of Gupta-linked ex-KPMG auditor

2019-02-15 21:00

IRBA has concludes the disciplinary hearing of a former KPMG auditor who worked on the books of a Gupta-linked company.

The Sunday Read: KPMG on transformation, missing red flags and rebuilding a brand

2018-12-16 09:30

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.

Trust us, KPMG chair pleads in letter to SA

2018-12-09 12:58

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.

How SA can achieve a clean ethics audit

2018-11-27 06:15

Is it SA's auditors who helped the country rot, or a rotten environment that let auditing standards slide? asks Heemal Bhaga Muljee.

Explainer: Lessons from the collapse of a small South African bank

2018-11-06 06:01

One of the main lessons from the VBS Bank collapse in South Africa is that audit reports need to be treated with a degree of circumspection. In some cases they will require independent verification.

Parliament: We demand answers on ballooning irregular spend

2018-10-10 20:27

Scopa and SCOA have called for accountability from those failing in their duties, after just 25% of 434 audited government departments and state-owned enterprises received clean audits compared to 34% last year.

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