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South Africa’s parliament cuts ties with auditor KPMG

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KPMG - [https://image.iol.co.za/image/1/process/620x349?source=https://inm-baobab-prod-eu-west-1.s3.amazonaws.com/public/inm/media/2017/09/18/iol/193/Copy-of-gr-KPMG9620.jpg&operation=CROP&offset=0x157&resize=2008x1127] KPMG - [https://image.iol.co.za/image/1/process/620x349?source=https://inm-baobab-prod-eu-west-1.s3.amazonaws.com/public/inm/media/2017/09/18/iol/193/Copy-of-gr-KPMG9620.jpg&operation=CROP&offset=0x157&resize=2008x1127]

South Africa’s parliament said on Wednesday it has terminated its contract with KPMG, citing reputational risks after the global auditor was caught up in a scandal involving business friends of President Jacob Zuma.

Parliament said this termination includes a contract KPMG has with a medical aid scheme for Members of Parliament.

KPMG cleared out its South African leadership en masse this month after damning findings from an internal investigation into the Guptas, accused by a public watchdog of improperly influencing government contracts.


 

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CNBCAFRICA

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