KPMG resigns as Saica auditor

KPMG's has resigned as the South African Institute of Chartered Accountants (Saica) external auditors. The audit firm cited possible conflict if it were to conduct Saica's 2018 audit while the current Saica-appointed Ntsebeza Inquiry is investigating some of the former and current KPMG-employed chartered accountants.

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Saica will now begin a tender process to appoint external auditors and its board will table a progress report on this process to its members at the annual general meeting on 26 June 2018.

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The board also wishes to advise that, following the completion of the tender process, a special general meeting will be called to approve the appointment of the recommended audit firm.