Auditor General’s office won't drop KPMG just yet
The office has decided to continue using the firm’s services but will review their work on an annual basis instead of the two-year period.
JOHANNESBURG - The Auditor General's office says it won't be taking any further action against auditing firm KPMG until the findings of an independent probe are released.
The office has decided to continue using the firm’s services, however, this arrangement will be reviewed on an annual basis instead of the previous two-year period.
The firm has come under immense scrutiny after releasing the findings of its internal investigation which revealed serious failings in the work it did for Gupta-linked companies and Sars.
Both the Independent Regulatory Board for Auditors and Saica have launched investigations into the scandal.
Auditor General Kimi Makwetu said: “Other firms enjoy an allocation of work annually from us because we dish out work to the private audit firms. Their allocation has now become annual instead of the two-yearly allocation of work and it will be subject to a review, as to where to from there.”