Moses Kgosana quits amid Gupta wedding row

03 July 2017 - 15:24
File photo of KPMG's logo.
File photo of KPMG's logo.
Image: REUTERS/Reinhard Krause

Former KPMG Africa CE Moses Kgosana will no longer become Alexander Forbes’s chairman on August 31‚ the insurance group said on Monday.

Incumbent chairman Sello Moloko will remain in the post until a new replacement had been selected‚ Alexander Forbes said.

Kgosana’s resignation followed a discovery by investigative journalism unit amaBhungane and Daily Maverick’s Scorpio in the leaked Gupta e-mails indicating KPMG was complicit in allowing the family to saddle South African taxpayers with the R30 million bill for their Sun City wedding bash.

"Since becoming aware of recently published allegations in respect of KPMG‚ which related to his previous position as CEO and senior partner of KPMG‚ he believes it is the correct course of action for himself‚ the company‚ its clients and shareholders‚" Alexander Forbes said.

The leaked e-mails included a thank you note for attending the wedding from Kgosana to Atul Gupta saying: "My wife and I were privileged to attend and enjoyed every moment and every occasion. I have never been to an event like that and probably will not because it was an event of the millennium."

After 15 years of auditing the Gupta family’s businesses‚ KPMG resigned with immediate effect in April 2016.

On Friday‚ the Independent Regulatory Board for Auditors said it would investigate KPMG’s 2014 audit of Oakbay associate Linkway Trading‚ which disbursed R30m worth of payments for the lavish wedding.

KPMG Southern Africa CEO Trevor Hoole told Business Day on Monday: "Consistent with our values‚ we have acted with integrity in our dealings with the Oakbay group."

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