Sasfin CEO opens up about dumping KPMG

Sasfin is terminating KPMG's role as an independent sponsor and has decided to put its audit out to tender as part of its commitment to good governance.

KPMG has cleared out its South African leadership and withdrawn its findings from a South African Revenue Services (Sars) report into the so-called rogue unit following an internal investigation which has revealed serious failings at the firm.

KPMG has been a joint auditor at Sasfin for 18 years.

Sars is stopping all work being done by KPMG and reporting the firm to the Finance Minister to be blacklisted.

Sasfin, along with SA's four major banks - Standard Bank, Barclays Africa, Nedbank and FirstRand - earlier this year also severed ties with Gupta-owned company Oakbay following allegations of state capture.

The Money Show’s Bruce Whitfield interviewed Sasfin CEO Roland Sassoon.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

We had to distance ourselves from KPMG…

Roland Sassoon, Sasfin

It doesn’t look good with regards to the Sars issue… it was the last straw.

Roland Sassoon, Sasfin

I feel terribly sorry for the 3000 people part of that organisation, 99% who, I’m sure, are ethical people.

Roland Sassoon, Sasfin

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Sasfin CEO opens up about dumping KPMG


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.

What is a hedge fund?

What is a hedge fund?

The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.

We have made progress in delivering on our promises to Marikana – Lonmin CEO

We have made progress in delivering on our promises to Marikana – Lonmin CEO

The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

'Auditors are watchdogs, not bloodhounds'

'Auditors are watchdogs, not bloodhounds'

The Money Show’s Bruce Whitfield interviews Independent Regulatory Board For Auditors CEO Bernard Agulhas.

Popular articles
'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

In the car feature, automotive journalist Jacob Moshokoa chats about his experience driving around with the Suzuki Dzire.

[LISTEN] Codeine addiction and abuse

[LISTEN] Codeine addiction and abuse

Member of the SASOP, Dr Eugene Allers chats about the causes behind addiction to over the counter medication.

Signs your jealousy may be getting unhealthy

Signs your jealousy may be getting unhealthy

Managing jealousy has become increasingly important, particularly with the evolving structure of modern relationships says Dr Eve.

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.