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Parly backs Kimi Makwetu in cancelling KPMG, Nkonki contracts

Auditor General Kimi Makwetu was before a joint meeting of two committees to defend his decision to sever ties with the firms.

The newly appointed auditor-general Thembekile Kimi Makwetu. Picture: AGSA.

CAPE TOWN - Parliament has unreservedly supported a decision by Auditor-General Kimi Makwetu to cancel the contracts of auditing firms KPMG and Nkonki.

But Members of Parliament have raised concern over whether the Independent Regulatory Board of Auditors has been doing its job in the wake of scandals that have rocked the two firms.

On Friday, Makwetu was before a joint meeting of two committees to defend his decision to sever ties with the firms.

The Auditor General says his office is sacrosanct and he has to protect its independence and integrity.

“We were trying to avert the prospect of a frightening possibility from becoming our horrendous reality.”

Chairperson of Parliament's Standing Committee on the Auditor-General Vincent Smith says Nkonki Inc should be barred from doing any work paid for with taxpayers' money until it reveals its shareholders.

“We can't have a situation where we don't know who you are doing business with. It just doesn't work.”

Nkonki Inc has announced it will be liquidating its operations.

Makwetu says he hopes that his decision to cancel their and KPMG's services at the end of July will restore the integrity of the auditing profession.

(Edited by Winnie Theletsane)

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