Embattled KPMG changes CEO to rebuild trust

It's hardly been a year since Dlomu's appointment, but the company says it is looking outside the firm for someone to "optimise prospects of rebuilding trust".

The auditing giant was last year embroiled in reputational challenges, leading to several South African businesses and government entities cutting ties with the firm.

In September last year, the company admitted that their report into the so-called 'Roque Unit' at the South African Revenue Service (SARS) was inadequate and does not meet the necessary auditing standards.

The scandal widened when former President Jacob Zuma used the report as grounds to fire then finance minister Pravin Gordhan, triggering a collapse in the Rand and two credit rating downgrades.

Five former officials from the Revenue Services also decided to take legal action against KPMG.

According to a statement released by the firm, Dlomu will be taking up an international role which focuses on organisational culture change and ethical leadership.

"A search to identify a successor is well advanced," reads the statement.

Chancellor of the University of Pretoria, Prof Wiseman Nkuhlu will, in the interim, serve as an executive chairman.

"It has been a huge privilege to lead KPMG this past year. Although it has been challenging, we have managed to stabilise the business," said Dlomu in a statement.