Civil society in action drives KPMG fall-out

The Organisation Undoing Tax Abuse (OUTA) is pleased with the recent developments at KPMG where the Chief Executive Officer of KPMG, Trevor Hoole, and seven other executives and partners allegedly resigned as result of their dealings and nonfactual reporting in the Gupta saga.

“It is an absolute disgrace that an audit firm of the stature of KPMG was able to implicate a Minister of Finance (Pravin Gordhan) and others in dubious and highly suspicious reporting,” said Wayne Duvenage, OUTA’s CEO on Friday.

“Reports by audit forms of this nature will have a significant impact on people’s lives, careers and the outcomes of political developments. We believe that KPMG was grossly negligent and out of line as regards their conduct on this matter.”

“We trust the KPMG developments will serve as a lesson in an industry that requires extreme diligence and care when it reflects the reality of financial and governance matters that depict the status quo of an organisation,” Duvenage added.

OUTA demands that further action be taken against these individuals and that full restitution will come to the fore.

Duvenage said that the demise of Bell Pothinger and the fall out at KPMG are just two recent examples of the power of civil society in action. “We trust that other organisations and in support of the Gupta empire, corruption, maladministration and those who abuse tax payers money will feel the pressure from civil society.”

The firm’s head for People and Change, Nhlamu Dlomu, will replace the former CEO’s position at KPMG.