{"id":202498,"date":"2017-10-03T11:08:54","date_gmt":"2017-10-03T09:08:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=202498"},"modified":"2017-10-03T11:08:54","modified_gmt":"2017-10-03T09:08:54","slug":"kpmg-audit-investigation-to-be-fast-tracked","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/202498\/kpmg-audit-investigation-to-be-fast-tracked\/","title":{"rendered":"KPMG audit investigation to be fast-tracked"},"content":{"rendered":"<p>The Independent Regulatory Body for Auditors (IRBA) has told parliament that the investigation into KPMG will be fast-tracked, <strong><a href=\"http:\/\/af.reuters.com\/article\/commoditiesNews\/idAFJ8N1LC02E\">Reuters<\/a><\/strong> reports.<\/p>\n<p>\u201cWe will fast-track the investigation, but we have to respect the prescribed process of the auditing profession act and disciplinary rules,&#8221; the group told parliament&#8217;s finance committee.<\/p>\n<p>It said that in the beginning of the process, it did not always receive the information that was required from KPMG, but the under-fire firm has now committed to cooperate with the investigation.<\/p>\n<p>The IRBA investigation is one of several probes into KPMG&#8217;s working relationship and contracts with the controversial Gupta family, as well as its work into the so-called rogue unit at SARS.<\/p>\n<p>The firm has been accused of turning a blind eye to alleged money laundering by Gupta-linked companies, and also for pushing a false narrative around SARS&#8217; specialised investigative unit, allowing political pressure to be placed on former officials.<\/p>\n<p>KPMG International has launched an independent investigation, while\u00a0the Companies and Intellectual Properties Commission (CIPC) also has an active investigation into the matters raised by media reports.<\/p>\n<p>Businesses like Sygnia and Sasfin have abandoned the auditor over the allegations, while South Africa&#8217;s big banks are actively reviewing their relationship with the firm.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/banking\/202406\/absa-will-reconsider-kpmg-relationship\/\" rel=\"bookmark\">Absa will \u2018reconsider\u2019 KPMG relationship<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Independent Regulatory Body for Auditors (IRBA) has told parliament that the investigation into KPMG will be fast-tracked, Reuters reports.<\/p>\n","protected":false},"author":10,"featured_media":183037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[],"class_list":["post-202498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/202498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=202498"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/202498\/revisions"}],"predecessor-version":[{"id":202510,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/202498\/revisions\/202510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/183037"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=202498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=202498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=202498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}