It should be frowned upon for a minister or proxy to call a CEO of a state entity enquiring about opportunities for comrades, writes Mpumelelo Mkhabela.
High level clouds. Cool.
Saica has issued draft charge sheets for two members of its members following its Ntsebeza Inquiry into widespread reports of wrongdoing by KPMG relating to the audit of Gupta companies and the SARS Report.
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”.
KPMG South Africa's new leader Ignatius Sehoole has a colourful history that includes being expelled from his first university – for a good cause.
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.
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.
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.
Many senior and mid-level staff have resigned in recent months.
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.
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 expects the result of an internal investigation "imminently" – and says more staff may be in the firing line.
D-Day for the new cabinet.
A third of South Africans who sat for the final qualifying chartered accountants exam failed.
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 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.
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.
Meanwhile, universities and the Agricultural Research Council have switched to different fraud-and-ethics hotline providers.
Absa won't even ask shareholders to vote on reappointing KPMG.
KPMG signed off on a banking operation that was, as described by the Reserve Bank, dangerously inept – and ran off Excel spreadsheets.
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.
KPMG publicly withdrew the conclusions of the report in September 2017, saying it regretted the impact the report had.
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