Audit regulator launches probe into KPMG's audit of Gupta company
The Independent Regulatory Board for Auditors says it will investigate the audit by KPMG of Linkway Trading, the company implicated in the Guptas' lavish Sun City wedding in 2013.
It comes after more reports on the so-called #GuptaLeaks, a trove of around 200 000 emails exposing the controversial family's alleged influence on government and executives at state owned entities.
The report, by amaBhungane and Scorpio, claims KPMG turned a blind eye to Linkway laundering the money for the wedding.
It further states not only was auditors aware of the details of the wedding, but KPMG's former CEO Moses Kgosana also attended the event, allegedly describing it as "the event of the millennium" in an email to Atul Gupta.
The IRBA says while it has not yet received any formal complaints over the allegations, it does have the power to launch its own investigation.
"The investigation may be initiated despite the fact that KPMG terminated its 15-year relationship with the affected companies in 2015," reads a statement by the IRBA.
It adds KPMG has been informed of the investigation.