Institute of Directors breaks off ties with KPMG, pending outcome of probe

The Institute of Directors has temporarily suspended all co-branded activities with the auditing firm KPMG.

KMPG was allegedly involved in syphoning taxpayer's money to pay for a lavish Gupta family wedding at Sun City.

The Institute of Directors has suspended KPMG's sponsorship of events with KPMG, including the firm's scheduled golf day next month which has been cancelled.

Read: KPMG under fire for alleged role in state capture

The institute has also suspended KPMG's involvement in the audit committee forum, reports EWN's Gia Nicolaides.

This is not the first blow for KPMG. In July, assets management firm Sygnia cut ties with the auditing company.

Also read: Why Sygnia fired KPMG

The Institute of Directors says it will wait for investigations to be completed, before deciding on whether to permanently suspend relations with KPMG.

Take a listen to the EWN update:


Recommended

by NEWSROOM AI
Read More
Hiding inside the 'dark web' - the horrors of child pornography

Hiding inside the 'dark web' - the horrors of child pornography

Expert says says child pornography has the effect of re-abusing the victim because it always exists online.

Thousands expected to march in support of Zuma

Thousands expected to march in support of Zuma

Supporters of the former president are expected to march to the Durban High Court on Friday.

NPA to pursue Zuma prosecution

NPA to pursue Zuma prosecution

NPA boss Shaun Abrahams announced on Friday that the state will reinstate fraud and corruption charges against Jacob Zuma.

KPMG under fire for alleged role in state capture

KPMG under fire for alleged role in state capture

The Money Show’s Bruce Whitfield interviews Pan-African Investments and Research Services CEO Dr Iraj Abedian.

There is no sign of remorse from KPMG -  Sygnia CEO

There is no sign of remorse from KPMG - Sygnia CEO

Sygnia has decided to fire KPMG over its alleged role in state capture.

Why Sygnia fired KPMG

Why Sygnia fired KPMG

Sygnia CEO Magda Wierzycka says at the very least KPMG fees from Gupta linked companies are blood money stolen from SA taxpayers.

Popular articles
Comair reports record earnings, 72nd profitable year in a row – a world record!

Comair reports record earnings, 72nd profitable year in a row – a world record!

Recession, soaring fuel costs and surplus capacity - yet profits keep coming! Bruce Whitfield interviews Comair CEO Erik Venter.

'Let’s tax this thing and make money out of it!'

'Let’s tax this thing and make money out of it!'

The Money Show's Bruce Whitfield interviews Jeremy Berke (Business Insider) and Unathi Henama (Tshwane University of Technology).

[LISTEN] Mother of three opens up about perinatal depression

[LISTEN] Mother of three opens up about perinatal depression

Pregnancy and the transition to motherhood can cause stress for many women. This can negatively affect their psychological health.

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Myrtle Clark and Julian Stobbs, dubbed the dagga couple, have been trying for years to have dagga legalised.

ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.

Cape Town dams on 70% for the first time since 2015

Cape Town dams on 70% for the first time since 2015

Cape Town's dam levels have hit the 70% mark but experts say Capetonians still have to be cautious in their water consumption.

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.