Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
The South African Reserve Bank (Sarb) expressed concerns today (September 22) about the repercussions that KPMG’s recent audits may have on the country’s financial system.
KPMG has been accused of irregular audits of companies related to the Gupta family, which has been linked to corrupting state contracts through ties to president Jacob Zuma. The consulting firm reacted by reshuffling its South African leadership last week.
“As the regulator of banks, the Sarb would obviously be concerned
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