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KPMG chair calls for company to be held accountable

KPMG says it has taken the decision to review all its work completed over the last 18 months to maintain the trust and integrity of the organisation.

KPMG CEO Nhlamu Dlomu (left) and KPMG chairperson Wiseman Nkuhlu (right) speak at a media briefing on 15 April 2018. Picture: Katleho Sekhotho/EWN

JOHANNESBURG – KPMG says it has taken the decision to review all its work completed over the last 18 months to maintain the trust and integrity of the organisation.

The company announced at the weekend that two of its partners had resigned after facing disciplinary charges over VBS Bank and the partners failure to comply with the audit firm's policies.

CEO Nhlamu Dlomu on Sunday confirmed that the lead auditor responsible for signing off the banks financials, Sipho Malaba, held loans with the bank but had not declared its full extent.

KPMG chairperson Wiseman Nkuhlu says that the company will also be doing integrity checks within the organisation.

“It’s time that the new leadership be sensitised to this and the public must hold them accountable. And secondly, there must be a robust risk management processes, quality control processes.”

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