Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500 CapeTalk logo 2017 1500 x 1500
Best of CapeTalk
00:00 - 03:00
volume_up
volume_mute

Up Next: Weekend Early
See full line-up
Best of CapeTalk
00:00 - 03:00
Home
arrow_forward
Business

KPMG bosses in denial about damage caused to credibility and trust - economist

10 September 2017 11:51 PM
Tags:
State Capture
Corruption Watch
David Lewis
KPMG
Iraj Abedian

Economist Dr Iraj Abedian says it is problematic for companies to associate with auditors who face reputational risk.

Economist Dr Iraj Abedian says that senior executives at KPMG remain in denial that there has been a breach of ethics by the firm.

Abedian says his decision to it was an ethical decision to step down from Munich Re of Africa (MRoA)'s board, over their continued involvement with disgraced audit firm.

Abedian says he made the call after two months of ongoing engagement with MRoA.

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

Abedian says it is problematic for companies to associate with auditors who face reputational risk.

Last week, the Institute of Directors has temporarily suspended all co-branded activities with KPMG.

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

Corruption Watch executive director David Lewis says the auditing firm must be held accountable, along with other private sector firms implicated in state capture and corruption.

Also read: KPMG under fire for alleged role in state capture

Lewis adds that the role of consultancy firm McKinsey must also be investigated and says pressure must be put on the Hawks and NPA to act.

He explains that KPMG has lot the trust of many companies and

Lewis and Abedian concur that more companies must distance themselves from KPMG or face being associated with organised crime.

Take a listen to them discuss the important role of corporate accountability:


10 September 2017 11:51 PM
Tags:
State Capture
Corruption Watch
David Lewis
KPMG
Iraj Abedian

More from Business

Ecstasy mandy mdma 123rf 123rflifestyle

Decriminalise the use of recreational drugs – Department of Social Development

25 September 2020 3:37 PM

"It’s time to stop arresting drug users," Deputy Minister of Social Development Hendrietta Bogopane-Zulu told the UN this week.

Share this:
Read More arrow_forward

Elon Musk on the cover of Newsweek 123rfbusiness 123rf 123rflifestyle

Elon Musk is R1.1 trillion richer than at the start of the pandemic

25 September 2020 2:08 PM

The Pretoria native is having an excellent pandemic – much like his über-rich peers.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Money lessons Covid-19 taught – heed them for a brighter, wealthier future

25 September 2020 10:44 AM

Your financial future – even if you have to start over – could be brighter than it would’ve been without the pandemic.

Share this:
Read More arrow_forward

Deputy Chief Justice Raymond Zondo at the state capture inquiry

'It’s sad and awful! Judge Raymond Zondo sounds resigned and defeated'

25 September 2020 9:17 AM

"Zondo’s comments at the end of the hearing; it was just so bleak! A sombre, grim end to a day," says journalist Erin Bates.

Share this:
Read More arrow_forward

cashless-paymentjpg

'SA cash economy about 60% of GDP, moving that to digital would be huge saving'

24 September 2020 8:39 PM

The Covid-19 pandemic's moving us towards a cashless society. Arabile Gumede interviews Ukheshe co-founder, Clayton Hayward.

Share this:
Read More arrow_forward

Small business owners entrepreneurs entrepreneurship 123rf 123rfbusiness

Retail Capital injects R500m into economy through Covid-relief for SMEs

24 September 2020 7:41 PM

'Smaller businesses have largely been ignored'. Arabile Gumede interviews Retail Capital CEO Karl Westvig.

Share this:
Read More arrow_forward

national_lottery.jpg

Diverted Lotto millions: 'Can we please get to holding people to account!'

24 September 2020 6:58 PM

Outa's Stefanie Fick urges the speedy investigation of allegations against the suspended COO of the National Lotteries Commission.

Share this:
Read More arrow_forward

Skyscrapers CBD Johannesburg 123rf 123rfbusiness

Long-term investment case for property in Africa remains intact

24 September 2020 1:38 PM

There’ll be many opportunities for frontier investors in the coming years, says Absa's Somaya Joshua.

Share this:
Read More arrow_forward

villa mansion pool dusk 123rf 123rfbusiness 123rflifestyle

Joburg City Power cuts wealthy Dainfern households for electricity theft

24 September 2020 12:49 PM

"There was resistance," says City Power's Isaac Mangena. "Security told us, 'Why are you here? Politicians stay in this area!'"

Share this:
Read More arrow_forward

Depressed boy child holding smile smiley pretending depression depressed 123rf

Social media: We are puppets. Especially our kids – Netflix documentary

24 September 2020 11:46 AM

We’re lab rats in a social experiment of unapparelled importance. Kieno Kammies interviews Dean McCoubrey of MySociaLife.

Share this:
Read More arrow_forward