20°C / 22°C
  • Tue
  • 25°C
  • 10°C
  • Wed
  • 24°C
  • 12°C
  • Thu
  • 22°C
  • 10°C
  • Fri
  • 24°C
  • 13°C
  • Sat
  • 23°C
  • 9°C
  • Sun
  • 23°C
  • 10°C
  • Tue
  • 19°C
  • 13°C
  • Wed
  • 20°C
  • 11°C
  • Thu
  • 18°C
  • 13°C
  • Fri
  • 17°C
  • 12°C
  • Sat
  • 20°C
  • 13°C
  • Sun
  • 18°C
  • 11°C
  • Tue
  • 27°C
  • 11°C
  • Wed
  • 26°C
  • 11°C
  • Thu
  • 25°C
  • 12°C
  • Fri
  • 27°C
  • 12°C
  • Sat
  • 26°C
  • 12°C
  • Sun
  • 26°C
  • 13°C
  • Tue
  • 25°C
  • 7°C
  • Wed
  • 26°C
  • 7°C
  • Thu
  • 25°C
  • 10°C
  • Fri
  • 26°C
  • 11°C
  • Sat
  • 26°C
  • 9°C
  • Sun
  • 26°C
  • 9°C
  • Tue
  • 26°C
  • 19°C
  • Wed
  • 25°C
  • 19°C
  • Thu
  • 28°C
  • 19°C
  • Fri
  • 24°C
  • 20°C
  • Sat
  • 25°C
  • 19°C
  • Sun
  • 24°C
  • 20°C
  • Tue
  • 19°C
  • 15°C
  • Wed
  • 21°C
  • 14°C
  • Thu
  • 22°C
  • 16°C
  • Fri
  • 19°C
  • 12°C
  • Sat
  • 17°C
  • 12°C
  • Sun
  • 21°C
  • 13°C
  • Tue
  • 19°C
  • 11°C
  • Wed
  • 22°C
  • 11°C
  • Thu
  • 17°C
  • 10°C
  • Fri
  • 19°C
  • 10°C
  • Sat
  • 19°C
  • 10°C
  • Sun
  • 18°C
  • 8°C
  • Tue
  • 18°C
  • 13°C
  • Wed
  • 20°C
  • 12°C
  • Thu
  • 17°C
  • 12°C
  • Fri
  • 17°C
  • 12°C
  • Sat
  • 18°C
  • 12°C
  • Sun
  • 16°C
  • 12°C
  • Tue
  • 28°C
  • 11°C
  • Wed
  • 27°C
  • 11°C
  • Thu
  • 26°C
  • 12°C
  • Fri
  • 28°C
  • 11°C
  • Sat
  • 27°C
  • 12°C
  • Sun
  • 27°C
  • 12°C
  • Tue
  • 24°C
  • 8°C
  • Wed
  • 26°C
  • 10°C
  • Thu
  • 24°C
  • 10°C
  • Fri
  • 22°C
  • 7°C
  • Sat
  • 25°C
  • 12°C
  • Sun
  • 24°C
  • 11°C
  • Tue
  • 28°C
  • 11°C
  • Wed
  • 25°C
  • 13°C
  • Thu
  • 26°C
  • 11°C
  • Fri
  • 25°C
  • 10°C
  • Sat
  • 28°C
  • 11°C
  • Sun
  • 23°C
  • 11°C
  • Tue
  • 18°C
  • 13°C
  • Wed
  • 21°C
  • 13°C
  • Thu
  • 22°C
  • 13°C
  • Fri
  • 19°C
  • 11°C
  • Sat
  • 16°C
  • 11°C
  • Sun
  • 21°C
  • 11°C

2 KPMG South Africa partners resign after facing disciplinary charges

The company said in a statement partners Sipho Malaba and Dumi Tshuma tendered their resignations on Friday, which have been accepted.

KPMG's Johannesburg offices. Picture: kpmg.com/za

JOHANNESBURG - KPMG South Africa said on Saturday two of its partners have resigned after facing disciplinary charges over failure to disclose financial interests in connection to VBS Mutual Bank, which was placed under curatorship.

The company said in a statement partners Sipho Malaba and Dumi Tshuma tendered their resignations on Friday, which have been accepted.

KPMG said the disciplinary charges against Malaba and Tshuma were “connected to VBS bank and include, but are not limited to, failure by the partners to comply with the firm’s policies and procedures regarding the disclosure of relevant financial interests.”

The South African Reserve Bank in March placed small lender VBS under curatorship because of liquidity issues.

KPMG said when VBS went into curatorship, information arose in relation to the partners that prompted the firm to launch an independent investigation. The investigation was ongoing and further action would be taken as appropriate, it said.

“This has been a very disappointing episode for KPMG. There can be no tolerance, however, of any conduct that compromises our reputation and we have moved decisively to deal with the situation,” KPMG South Africa chief executive Nhlamulo Dlomu said.

KPMG did not provide further details. It is one of several international companies facing questions about its work for the Gupta brothers, who have been accused of using their links with former President Jacob Zuma to secure lucrative tenders.

The Guptas and Zuma have denied any wrongdoing, and the accusations are part of judicial inquiry into “state capture”.

A number of companies have said they would drop KPMG as their auditor.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus