KPMG South Africa won't say if its insurance against claims – like the massive one it may face on VBS Mutual Bank – covers fraud. But it insists its deep-pocketed international parent is behind it all the way.
The audited financial statements of VBS Mutual Bank which were submitted to the Reserve Bank were not reliable, Parliament has heard.
STAR says PricewaterhouseCoopers has been appointed as its external auditor.
The Ntsebeza Inquiry faces a roadblock when investigating individuals who are not members of the South African Institute of Chartered Accountants.
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.
In a Financial Matters Amendment Bill released for comment on Friday, Treasury proposed several changes to the Auditing Profession Act, the law that created Irba.
‘Construction firm Linkway does not have any employees … It lacks an apparent commercial purpose’.
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.
Capitec has rejected a call to take on a second auditor amid a damning report, including queries about its loan book and level impairments.
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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