Troubled audit and advisory firm KPMG has terminated contracts with clients that it considers to be high-risk, including all politically affiliated entities. KPMG SA CEO Nhlamu Dlomu this week said the company was looking at its client base to assess whether its client book posed risks. "If we find something in there we will act. So we are terminating any clients if we are finding clients that are unacceptable. Where we have risks we believe we cannot manage, we will take those actions. We have already started that process," said Dlomu. While she would not reveal which contracts had been terminated, she said: "I can assure you that we've already actioned some of those terminations." Over the past couple of months KPMG SA has lost clients equating to 5% of its audit revenue. According to KPMG's annual review, the audit revenue for Europe, Middle East and Africa region, which includes South Africa, was $4.13-billion (R58.71-billion) in 2016. Andrew Cranston, who was appointed interim ...
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