KPMG probe due to start after delay

01 November 2017 - 07:32
KPMG offices in Parktown.
Image: Bruce Gorton KPMG offices in Parktown.

After almost a month's delay, the details of the independent inquiry into KPMG's work for the controversial Gupta family and their report on the SA Revenue Service's so-called "rogue unit" will be announced this week.

A briefing will be held at the SA Institute of Chartered Accountants' offices in Johannesburg on Thursday.

Saica is playing an oversight role, to ensure the inquiry is established and that it is independent. It is funding the inquiry.

Despite an earlier announcement that the senior counsel of the panel, its terms of reference and the scope of the inquiry would be made known on October 12, there was still no information available.

The inquiry will be led by a retired judge or an advocate. The Independent Regulatory Board for Auditors is also investigating KPMG's conduct.

On September 22, KPMG International announced there would be an independent inquiry into the work of its South African arm. The company's global chairman at the time, John Veihmeyer, said the firm was "in active discussions to identify a credible, senior, independent legal figure to lead the investigation".