SOUTH AFRICA – Global audit firm KPMG has overhauled its South African leadership this week after ‘damning findings’ of an internal investigation into work done for the Guptas, who is accused of improperly influencing government contracts by leveraging on his relationship with President Jacob Zuma.
Though no evidence of illegal dealings was uncovered, KPMG did discover that the businesses it handled on behalf of the Gupta family firms “fell considerably short of KPMG’s standards”, it explained in a statement seen by Reuters.
“This has been a painful period and the firm has fallen short of the standards we set for ourselves, and that the public rightly expects from us,” new South African CEO Nhlamu Dlomu said.
“I want to apologise to the public, our people and clients for the failings that have been identified by the investigation.”
KPMG has agreed to donate the fees earned from such dealings to charity as well as refund the money it earned compiling a controversial report for the South African tax service.