Subscribe & Follow

Advertise your job vacancies

Date set for beginning of KPMG-Gupta hearings

1 Feb 2018

The Ntsebeza inquiry into the conduct of South African Institute of Chartered Accountants (Saica) members who worked for KPMG SA on Gupta accounts and the South African Revenue Service (Sars) "rogue unit" report will soon start its hearings.

Date set for beginning of KPMG-Gupta hearings

The hearings were expected to start on Monday, 19 February, inquiry leader advocate Dumisa Ntsebeza said on Wednesday.

There are two inquiries into the work international auditing firm KPMG did for the controversial Gupta family and on the SARS report.

The Ntsebeza inquiry is looking into Saica members employed by KPMG whose conduct may have contravened the Saica code of professional conduct.

The other inquiry is being carried out by the Independent Regulatory Board for Auditors (Irba) into the audit firm's conduct. KPMG SA found itself at the centre of state-capture allegations following the release of Gupta e-mails. The fallout led to the loss of clients and the departure of nine senior executives.

Ntsebeza said it was important that witnesses and respondents be given an opportunity to defend their positions.

"We want to ensure that the process is fair and that we are able to hand Saica a report that is comprehensive and with findings that are defensible.

"We understand " the public would want to see swift action in this emotive matter, but it is important we do not fall prey to hasty judgments that may prejudice individuals", he said.

KPMG SA said it had made submissions to the Ntsebeza inquiry and intended to make further submissions. The firm said it had no knowledge of any current or former employees being called to testify and had not been informed by the Ntsebeza inquiry about who would be asked to provide testimony.

Former Sars employees implicated in the "rogue-unit" report - Ivan Pillay, Peter Richer, Yolisa Pikie and Adrian Lackay - said they had made submissions to the inquiry.

"We would assist any credible inquiry into the production of the fraudulent content of the KPMG report to Sars," Lackay said on behalf of the group.

However, they had not been furnished with a final copy of the Sars report, which was completed in January 2016.

Source: Business Day

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za