Two KPMG SA partners quit in wake of VBS scandal

 

KPMG South Africa has announced that two partners, Sipho Malaba and Dumi Tshuma, have tendered their resignations with immediate effect after being faced with disciplinary charges brought against them.

Their resignations have been accepted by the group, it said.

“Both cases are conduct charges, connected to VBS bank and include, but are not limited to, failure by the partners to comply with the firm’s policies and procedures regarding the disclosure of relevant financial interests,” KPMG said.

“When VBS bank recently went into curatorship, information arose in relation to these partners that prompted KPMG to launch an independent investigation, conducted by Bowmans. That investigation is ongoing and further action will be taken as appropriate.”

“This has been a very disappointing episode for KPMG. There can be no tolerance, however, of any conduct that compromises our reputation and we have moved decisively to deal with the situation,” said KPMG South Africa chief executive Nhlamulo Dlomu.


Read: Reserve Bank launches forensic investigation into VBS

 

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Two KPMG SA partners quit in wake of VBS scandal