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KPMG faces possible shareholder protests in US

It’s understood the scandal includes the opening of about two million bank accounts in customers' names without their approval or knowledge.

Picture: @KPMG/Twitter.

JOHANNESBURG - Auditing company KPMG, which has been under fire in South Africa for its audits of Gupta-owned companies and its role in the so-called rogue unit report, is now facing possible shareholder protests in the United States.

The Financial Times is reporting that KPMG could face protests over its audits of major clients Wells Fargo and General Electric.

It’s understood the scandal includes the opening of about two million bank accounts in customers' names without their approval or knowledge.

The newspaper is reporting that shareholder advisory service Glass Lewis has recommended that investors in Wells Fargo and General Electric vote against retaining KPMG as the bank's auditor.

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