Nhlanhla Nene urges 'good men and women' to step forward and fix auditing industry
Finance Minister Nhlanhla Nene has weighed in on the calamitous state of auditing in South Africa, calling for the industry to "cleanse itself" to avoid further damage to the livelihoods of those who are innocent of any misdemeanour. This comes as another two clients said on Friday they were reassessing their relationships with KPMG. Nene will meet with auditor-general Kimi Makwetu in the next two weeks, to ask for an explanation for axing audit firms KPMG and Nkonki Inc and what further action his office will be taking. Nkonki Inc has since applied for voluntary liquidation, while KPMG's future has become uncertain afterBarclays Africa, a major client, signalled intentions to cut ties. "The only way the profession in my view can cleanse itself is for the good men and women to stand firm and do what is right. It's going to take a bit of time for them to clean up their name. The audit profession has taken a beating."Nene said it was unfortunate that when firms go down they take innoc...
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