JOHANNESBURG (Reuters) – South African brokerage house Sasfin Holdings on Tuesday fired KPMG as its auditor, citing “well-publicized concerns” about the accounting firm struggling to keep clients after flaws in its work for friends of President Jacob Zuma.
KPMG [KPMG.UL] cleared out its South African leadership en masse on Friday after it found that work done for firms owned by the Gupta family “fell considerably short” of its standards. It found no evidence of crimes or corruption, however.
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“In view of the well-publicized concerns recently raised with regard to KPMG as well as Sasfin’s commitment to good governance in respect of auditor independence and auditor tenure, Sasfin has decided to put its audit out to tender,” Sasfin said in a statement.
Sasfin’s decision comes as several South African blue-chips...
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