KPMG partners could face a R2 billion claim on VBS - and their insurance may not pay

2018-10-15 09:20

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.

British politician pledges to break up 'cartel' of big four accounting firms in radical overhaul

2018-09-24 16:30

The big four accountancy firms could be broken up as part of a radical change promised by the British Labour party, the shadow chancellor John McDonnell says.

Please Call Me inventor says KPMG is helping cover for Vodacom by withholding forensic report

2018-06-08 10:43

Nkosana Makate won the right to be paid for invention, but he and Vodacom have not yet agreed on an amount. Now he says KPMG is withholding information he needs.

Steinhoff still offers SA companies an 'ethics hotline' – operated by KPMG

2018-05-04 06:32

Meanwhile, universities and the Agricultural Research Council have switched to different fraud-and-ethics hotline providers.

After 18 days of silence from KPMG, Absa just dropped it as auditor

2018-05-03 08:02

Absa won't even ask shareholders to vote on reappointing KPMG.

Two KPMG partners with a combined 26-year history at the firm have quit amid the growing VBS Mutual Bank scandal

2018-04-14 18:35

KPMG signed off on a banking operation that was, as described by the Reserve Bank, dangerously inept – and ran off Excel spreadsheets.

KPMG missed chance to clean up after Gupta mess, says commentator Khaya Sithole

2018-04-13 15:53

KPMG once again finds itself in hot water, after it missed the opportunity to clean up its operations after the Gupta debacle, says chartered accountant and commentator Khaya Sithole.

Ntsebeza Inquiry gets final SARS 'rogue unit' report from KPMG

2018-03-07 20:06

KPMG publicly withdrew the conclusions of the report in September 2017, saying it regretted the impact the report had.

Why competition smashes corruption

2017-11-07 13:27

Many companies ditched KPMG for its competitors after allegations of its links to the Guptas come to light. But how can bad corporate behaviour be punished if there are no competitors to turn to?

Auditing sector deserves redemption, says Manuel

2017-10-03 15:56

Former finance minister Trevor Manuel believes that, in light of the KPMG controversy, the sector should re-examine corporate good governance and independent oversight.


5 shocking things in the 'Great Bank Heist' report into VBS Mutual Bank

2018-10-10 20:00

From the average cost of buying someone's silence (more than you'd think) to the complexity of alleged scams (not very), these are some of the highlights from Terry Motau's eye-popping report into the looting of VBS Mutual Bank.

This is why Investec is sticking with KPMG — despite shareholder outrage

2018-08-10 12:11

Nearly a fifth of Investec's shareholders did not want KPMG, and the board says it too has concerns, but that it is better for South Africa to keep the firm as its auditors.

We're not banning KPMG, says AG Kimi Makwetu

2018-05-04 13:43

Whether KPMG will ever be allowed to do business with his office will depend largely on the outcome of investigations and whether its leaders can rebuild trust, says the Auditor General.

KPMG staff are jumping ship amid bonus fears and ‘enormous’ panic

2018-05-03 17:03

Many senior and mid-level staff have resigned in recent months.

Six months ago the AG said it was too early to tell if KPMG was compromised. On Tuesday he terminated its contracts 'with immediate effect’.

2018-04-17 17:13

Media reports around KPMG – and smaller audit firm Nkonki – meant he had to stop their work for government, the auditor general has said, at least for the time being.

Two partners resign from KPMG over VBS bank audit

2018-04-14 16:04

The auditing firm says the pair were facing disciplinary hearings over allegedly failing to disclose financial interests in work done for VBS Mutual Bank.

KPMG warns more staff may be involved in VBS investigation

2018-04-13 08:39

KPMG expects the result of an internal investigation "imminently" – and says more staff may be in the firing line.

How state capture fuels corporate corruption

2017-12-12 09:20

Corruption is corruption, is corruption. It's no different if it takes place in the private or public sector. But where politicians are implicated, prosecutions seem to dry up, writes Wayne Duvenage.

No such thing as a minor lapse of integrity

2017-10-15 06:19

The crime KPMG committed in tarnishing SA’s economy and reputation is unforgivable, writes Tebogo Khaas.

Auditing sector deserves redemption, says Manuel

2017-10-03 15:56

Former finance minister Trevor Manuel believes that, in light of the KPMG controversy, the sector should re-examine corporate good governance and independent oversight.

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