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IRBA appoints team to review KPMG SA’s turnaround strategy

The audit firm's local unit has lost more than 10 clients in the country including Absa Bank and the South African government.

Picture: @KPMG/Twitter.

JOHANNESBURG - The Independent Regulatory Board for Auditors (IRBA) has announced its appointed a specialised team to review the turnaround strategy of KPMG's scandal-hit South African arm.

The audit firm's local unit has lost more than 10 clients in the country including Absa Bank and the South African government.

Earlier on Friday, Redefine Property also severed ties with the firm.

KPMG's problems began over work it did for a company owned by the Gupta family, who are alleged to have used their links to former president Jacob Zuma to amass wealth.

Zuma and the Guptas have denied any wrongdoing.

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