IRBA: KPMG probe leading to other lines of inquiry

The board is investigating the auditor for its audit of a Gupta-owned Linkway Trading, and its South African Revenue Service rogue unit report.

KPMG's Johannesburg offices. Picture: kpmg.co.za

CAPE TOWN - The Independent Regulatory Board for Auditors (IRBA) says its current investigations into KPMG are leading to further lines of inquiry.

But, it says, it can’t reveal, at this time, what these are.

The board is investigating the auditor for its audit of a Gupta-owned Linkway Trading, and its South African Revenue Service (Sars) rogue unit report.

The board on Wednesday updated Parliament’s Standing Committee on Finance on the status of its key investigations.

IRBA says a lack of resources is making it difficult to speed up its investigations, but it’s making strides in high-profile cases.

The auditor implicated in the Linkway Trading matter, which is linked to the Vrede dairy farm scandal in the Free State, will face a disciplinary hearing in the first week of July.

IRBA chief executive Bernard Agulhas says they now also have all the information needed to proceed with its investigation into the Sars rogue unit report matter.

“It’s something that we understand is urgent, but we couldn’t get the information up to March 2018.”

Following postponements in the African Bank matter, the disciplinary hearing of auditing firm Deloitte will resume in September.

(Edited by Zamangwane Shange)