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Registration of KPMG auditors at risk over Gupta audit

04 July 2017 - 09:00 By Hanna Ziady
File photo of KPMG's logo.
File photo of KPMG's logo.
Image: REUTERS/Reinhard Krause

KPMG auditors responsible for the audit of Gupta-owned Linkway Trading risk losing their designation as registered auditors if an investigation by the profession’s regulator finds against them.

The Independent Regulatory Board for Auditors may‚ in terms of the Auditing Profession Act and following a disciplinary hearing‚ impose a warning‚ a fine or cancel an audit practitioner’s registration where improper conduct is found.

The board is now investigating KPMG’s 2014 audit of Linkway Trading‚ which paid for the R30m Gupta wedding at Sun City in 2013‚ using money meant to develop Free State farmers.

On Friday‚ the amaBhungane Centre for Investigative Journalism reported that the leaked Gupta e-mails revealed how money from the Free State provincial government had flowed via Free State company Estina to Gupta-owned Accurate Investments in Dubai and then on to Linkway Trading.

Business Day/ TimesLIVE