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KPMG probe: We won't be rushed, says IRBA

IRBA’s CEO Bernard Agulhas says they need to conduct a fair and proper investigation.

KPMG. Picture: Facebook

CAPE TOWN – The Independent Regulatory Board for Auditors (IRBA) says it could take about 18 months to conclude an investigation into KPMG but says it won’t be rushed due to the public interest.

The IRBA appeared before Parliament on Tuesday where it said its probe into KPMG would likely include the conduct of those who signed off on a forensic report into the so-called Rogue Unit at South African Revenue Services.

IRBA’s CEO Bernard Agulhas says they need to conduct a fair and proper investigation.

“If we rush through a case and we don’t follow a proper process, we could also be accused of not being fair to all the parties.

“But also if we want a proper outcome and the right outcome, then we have to ensure that we’re responsible.”

Meanwhile, the Chairperson of Parliament’s Standing Committee on Finance wants auditors found guilty of wrongdoing by the industry watchdog to face prosecution in court.

During a meeting between lawmakers and the IRBA on Tuesday, the committee’s chairperson Yunus Carrim said the risk of losing a licence to operate is not enough to keep auditors in check.

(Edited by Leeto M Khoza)

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