KPMG South Africa Sunday unveiled a four-point plan aimed at restoring trust in the beleaguered audit firm which has in the recent past been hit by scandals involving the quality of its work.
This comes after two of its partners resigned on Friday after being suspended for failing to disclose financial interests with VBS bank.
Despite VBS's curator being unable to confirm the existence of R900-million in deposits and flagging related-party fraudulent transactions‚ KPMG‚ which signed off on VBS's accounts for the year to March 2017‚ had not filed any "reportable irregularities" with Irba‚ the regulator confirmed on Thursday.
"In essence what we're doing is we're opening ourselves up to proper and detailed scrutiny".
The company's reputation took a nose-dive a year ago following allegations of misconduct around work it had carried out for a number of Gutpa-linked companies. Zuma and the Guptas have denied any wrongdoing.
The latest review will be in addition to other internal and external reviews that have been carried out since last September to date.
The goal of this new program is to assess the commitment to quality and professionalism of KPGM engagement teams.
The company also said it has started an expanded process of integrity and background checks of all partners and their spouses, which will be coordinated by KPMG International.
On the VBS work, "the disappointment and anger is palpable", said Nhlamu Dlomu, chief executive officer of KPMG South Africa. KPMG needs to come clean in order to ensure that trust is restored in auditors and that we can get to the bottom of the problems at VBS.
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Yes, we live in the world of modern technologies where a teenager knows more about technologies than people in mid 30s. When writing about yourself, keep in mind that people might think of different things and have different associations.
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It increased, as 56 investors sold GIS shares while 388 reduced holdings. 111 funds opened positions while 393 raised stakes. The fund owned 186,735 shares of the software maker's stock after purchasing an additional 92,082 shares during the period.
Thunder Force IV will see the Styx Mode from the SEGA Saturn edition return, and online leaderboards will also be supported. However, it hasn't taken long for Sega to reveal two more games in the range: Alex Kidd in Miracle World and Gain Ground .
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It dived, as 68 investors sold JWN shares while 144 reduced holdings. 165 funds opened positions while 435 raised stakes. The shares of Ford Motor Company (NYSE:F) went down during the trading session by -$0.03 on Friday , trading at $11.28.
Syria and its ally Russian Federation deny any chemical attack took place - with Russian Federation calling it a "staged thing". The team will work with the United Nations Department of Safety and Security ensure the safety of the team, it said.
President Donald Trump is again calling former FBI Director James Comey a "slimeball" ahead of the publication of his new book. Share with Us - We'd love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism.
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